Document:

EX-10.2

EXHIBIT 10.2

EXECUTIVE AGREEMENT

This is an agreement (this “Agreement”) among Huntington Bancshares Incorporated, a Maryland
corporation with its principal office located at the Huntington Center, 41 South High Street,
Columbus, Ohio 43215, and its Subsidiaries (individually and collectively, the “Corporation”) and
Stephen D. Steinour (the “Executive”), effective as of December 1, 2012 (the “Effective Date”).

Recitals:

The Corporation considers the establishment and maintenance of a sound and vital management to
be part of its overall corporate strategy and to be essential to protecting and enhancing the
interests of the Corporation and its shareholders. As part of this corporate strategy, the
Corporation wishes to act to retain its key executive officers notwithstanding any actual or
threatened change in control of the Corporation.

The Executive is a key executive officer of the Corporation or one of its Subsidiaries and the
Executive’s services, experience and knowledge of the affairs of the Corporation, and reputation
and contacts in the industry, are extremely valuable to the Corporation. The Executive’s continued
dedication, availability, advice, and counsel to the Corporation are deemed important to the
Corporation, its Board of Directors (the “Board”), and its shareholders. It is, therefore, in the
best interests of the Corporation to secure the continued services of the Executive notwithstanding
any actual or threatened change in control of the Corporation. Accordingly, the Board has approved
this Agreement with the Executive and authorized its execution and delivery on behalf of the
Corporation.

In furtherance of the foregoing and consistent with Section 4(i) of the Employment Agreement,
the Executive and the Corporation previously entered into an executive agreement dated as of
January 14, 2009 (the “Prior Agreement”), which among other things, contained a so called “280G
excise tax gross-up,” and effective as of the Effective Date, this Agreement shall supersede and
replace the Prior Agreement, which among other things, eliminates the 280G excise tax gross-up.
The Executive agrees that the entering into of this Agreement shall satisfy in full the obligation
of the Corporation to provide an executive agreement under Section 4(i) of the Employment
Agreement.

Agreement:

1. Term of Agreement. This Agreement will begin on the Effective Date and will
continue in effect through December 31, 2013. On December 31, 2013, and on December 31 of each
successive year thereafter during the term (each a “Renewal Date”), the term of this Agreement will
be extended automatically for an additional one-year period unless, not later than 30 days prior to
such Renewal Date, the Corporation gives written notice to the Executive that it has elected not to
extend this Agreement. Notwithstanding the above, if a “Change of Control” (as defined herein) of
the Corporation occurs during the term of this Agreement, the term of this Agreement will be
extended for 24 months beyond the end of the month in which any such Change of Control occurs.

2. Definitions. The following defined terms shall have the meanings set forth below,
for purposes of this Agreement:

(a) Annual Award. “Annual Award” means the cash payment paid or payable to the Executive with
respect to a fiscal year under the Corporation’s Management Incentive Plan, including any portion
thereof that has been earned but deferred.

(b) Base Annual Salary. “Base Annual Salary” means the greater of (1) the highest annual rate
of base salary in effect for the Executive during the 12-month period immediately prior to a Change
of Control, or (2) the annual rate of base salary in effect at the time Notice of Termination is
given (or on the date employment is terminated if no Notice of Termination is required).

(c) Cause. “Cause” means any of the following:

(1) The Executive shall have committed a felony or an intentional act of gross
misconduct, moral turpitude, fraud, embezzlement, or theft in connection with the
Executive’s duties or in the course of the Executive’s employment with the
Corporation or any Subsidiary, and the Board shall have determined that such act is
materially harmful to the Corporation;

(2) The Corporation or any Subsidiary shall have been ordered or directed by
any federal or state regulatory agency with jurisdiction to terminate or suspend the
Executive’s employment and such order or directive has not been vacated or reversed
upon appeal; or

(3) After being notified in writing by the Board to cease any particular
Competitive Activity (as defined herein), the Executive shall have continued such
Competitive Activity while employed by the Corporation and the Board shall have
determined that such act is materially harmful to the Corporation.

For purposes of this Agreement, no act or failure to act on the part of the Executive shall be
deemed “intentional” if it was due primarily to an error in judgment or negligence, but shall be
deemed “intentional” only if done or omitted to be done by the Executive not in good faith and
without reasonable belief that the Executive’s action or omission was in the best interest of the
Corporation. Notwithstanding the foregoing, the Executive shall not be deemed to have been
terminated for “Cause” under this Agreement unless and until there shall have been delivered to the
Executive a copy of a resolution duly adopted by the affirmative vote of not less than
three-quarters of the Board, or if, following the Change of Control, the Corporation is not the
ultimate parent corporation of the entities affiliated with the Corporation and is not publicly
traded, the board of directors of the ultimate parent of the Corporation (the “Applicable Board”),
at a meeting called and held for such purposes, after reasonable notice to the Executive and an
opportunity for the Executive, together with the Executive’s counsel (if the Executive chooses to
have counsel present at such meeting), to be heard before the Applicable Board, finding that, in
the good faith opinion of the Applicable Board, the Executive had committed an act constituting
“Cause” as defined in this Agreement and specifying the particulars of the act constituting “Cause”
in detail. Nothing in this Agreement will limit the right of the Executive or the Executive’s
beneficiaries to contest the validity or propriety of any such determination.

(d) Change of Control. “Change of Control” means the occurrence of any of the following:

(1) Any “person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934 (“the Exchange Act”) as in effect as of the date of
this Agreement) becomes the beneficial owner, directly or indirectly, of securities
of the Corporation representing 25% or more of the combined voting power of the
Corporation’s then-outstanding securities entitled to vote generally in the election
of directors (“voting securities”); provided, however, that, for
purposes of this Section 2(d)(1), the following acquisitions shall not constitute a
Change of Control: (i) any acquisition directly from the Corporation, (ii) any
acquisition by the Corporation, or (iii) any acquisition by any employee benefit
plan (or related trust) sponsored or maintained by the Corporation of any of its
Subsidiaries; or

(2) Individuals who, as of the Effective Date, constitute the Board of
Directors of the Corporation (the “Incumbent Board”) cease for any reason to
constitute at least a majority of the Board; provided, however,
that, any individual becoming a director subsequent to the date hereof whose
election, or nomination for election, was approved by a vote of at least a majority
of the directors comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding for this purpose any
such individual whose initial assumption of office occurs as a result of either an
actual or threatened election contest (as such terms are used in Regulation 14A
promulgated under the Exchange Act) or other actual or threatened solicitation of
proxies or consents by or on behalf of a person other than the Board; or

(3) Any of the following occurs:

(A) consummation of a merger, statutory share exchange, consolidation or similar
corporate transaction involving the Corporation, other than any such transaction in which
the voting securities of the Corporation immediately prior to the transaction continue to
represent (either by remaining outstanding or being converted into securities of the
“surviving entity,” which for purposes of this Agreement shall include the corporation or
other entity resulting from such transaction and/or the corporation or other entity that,
as a result of the transaction, owns the Corporation or all or substantially all of the
Corporation’s assets, either directly or indirectly) more than 50% of the combined voting
power of the Corporation or surviving entity resulting from such transaction immediately
after the transaction with another entity;

(B) consummation of a sale, exchange, lease, mortgage, pledge, transfer, or other
disposition (in a single transaction or a series of related transactions) of all or
substantially all of the assets of the Corporation which shall include, without
limitation, the sale of assets or earning power aggregating more than 50% of the assets
or earning power of the Corporation on a consolidated basis, other than any such
transaction in which a majority of the voting securities of the surviving entity are,
immediately following consummation of such transaction, beneficially owned by the
individuals and entities that were the beneficial owners of the Corporation’s voting
securities immediately prior to the transaction;

(C) a liquidation or dissolution of the Corporation;

(D) a reorganization, reverse stock split, or recapitalization of the Corporation
which would result in any of the foregoing; or

(E) a transaction or series of related transactions having, directly or indirectly,
the same effect as any of the foregoing.

(e) Competitive Activity. “Competitive Activity” means the Executive’s participation while
employed by the Corporation, without the written consent of an officer of the Corporation, in the
management of any business enterprise if such enterprise engages in substantial and direct
competition with the Corporation and such enterprise’s revenues derived from any product or service
competitive with any product or service of the Corporation amounted to 10% or more of such
enterprise’s revenues for its most recently completed fiscal year and if the Corporation’s revenues
for such product or service amounted to 10% of the Corporation’s revenues for its most recently
completed fiscal year. “Competitive Activity” will not include (i) the mere ownership of
securities in any such enterprise and the exercise of rights appurtenant thereto or (ii)
participation in the management of any such enterprise other than in connection with the
competitive operations of such enterprise.

(f) Disability; Disabled. “Disability” or “Disabled” means that, as a result of the
Executive’s incapacity due to physical or mental illness, the Executive shall be eligible for the
receipt of benefits under the Corporation’s long-term disability plan.

(g) Employee Benefits. “Employee Benefits” means the perquisites, benefits, and service
credit for benefits as provided under any and all employee retirement income and welfare benefit
policies, plans, programs, or arrangements in which the Executive is entitled to participate,
including, without limitation, any stock option, stock purchase, restricted stock, stock
appreciation, interim awards and accrued and unpaid bonuses under the Management Incentive Plan,
other awards under Stock Incentive Plans, savings, pension, supplemental executive retirement, or
other retirement income or welfare benefit, deferred compensation, incentive compensation, group or
other life, health, medical/hospital, or other insurance (whether funded by actual insurance or
self-insured by the Corporation), disability, salary continuation, expense reimbursement, and other
employee benefit policies, plans, programs, or arrangements that may now exist or any equivalent
successor policies, plans, programs, or arrangements that may be adopted hereafter, providing
perquisites, benefits, and service credit for benefits at least as great in a monetary equivalent
as are payable thereunder prior to a Change of Control.

(h) Employment Agreement. “Employment Agreement” means an executed employment agreement
between the Corporation and the Executive.

(i) Equity Incentive Award. “Equity Incentive Award” means the awards under the Stock
Incentive Plans (taking into account both regular and special incentive opportunities, if such
distinction is applicable), with the value of the Executive’s award potential to be determined on a
basis consistent with the methodology and assumptions used by the Corporation prior to the Change
of Control and taking into account, to the extent applicable, the design features applicable to
such awards, including without limitation, the target and maximum award levels, the performance
goals and the vesting terms (including rights upon termination of employment).

(j) Good Reason. “Good Reason” means the occurrence of any one or more of the following:

(1) The assignment to the Executive after a Change of Control of the
Corporation to a position that has or to duties that are materially different from
or inconsistent with the positions, duties, responsibilities, reporting
relationship, authority or status of the Executive’s positions or duties at the
Corporation at any time during the 12-month period prior to such Change of Control,
or which result in a significant change in the Executive’s authority, duties,
responsibilities, reporting relationship or status from those applicable to his
position at the Corporation at any time during the 12-month period prior to such
Change of Control;

(2) A reduction by the Corporation in the Executive’s Base Annual Salary as of
the day immediately prior to a Change of Control of the Corporation, or the failure
to grant salary increases and bonus payments on a basis comparable to those granted
to other executives of the Corporation, or a reduction of the Executive’s Annual
Award and Equity Incentive Award potential which existed immediately prior to such
Change of Control under the Corporation’s Management Incentive Plan, Stock Incentive
Plans, or any successor plans;

(3) A demand by the Corporation that the Executive relocate to a location in
excess of 35 miles from the location where the Executive is currently based, or in
the event of any such relocation with the Executive’s express written consent, the
failure of the Corporation or a Subsidiary to pay (or reimburse the Executive for)
all reasonable moving expenses incurred by the Executive relating to a change of
principal residence in connection with such relocation and to indemnify the
Executive against any loss in the sale of the Executive’s principal residence in
connection with any such change of residence, all to the effect that the Executive
shall incur no loss on an after-tax basis;

(4) The failure of the Corporation to obtain a satisfactory agreement from any
successor to the Corporation to assume and agree to perform this Agreement, as
contemplated in Section 16 of this Agreement;

(5) The failure of the Corporation to provide the Executive with substantially
the same Employee Benefits that were provided to him immediately prior to the Change
of Control, or with a package of Employee Benefits that, though one or more of such
benefits may vary from those in effect immediately prior to such Change of Control,
is substantially comparable in all material respects to such Employee Benefits taken
as a whole; or

(6) Any reduction in the Executive’s compensation or benefits or adverse change
in the Executive’s location or duties, if such reduction or adverse change occurs at
any time after the commencement of any discussion with a third party relating to a
possible Change of Control of the Corporation involving such third party, if such
reduction or adverse change is in contemplation of such possible Change of Control
and such Change of Control is actually consummated within 12 months after the date
of such reduction or adverse change.

The existence of Good Reason shall not be affected by the Executive’s incapacity due to physical or
mental illness. The Executive’s continued employment shall not constitute a waiver of the
Executive’s rights with respect to any circumstance constituting Good Reason under this Agreement.
The Executive’s determination of Good Reason shall be conclusive and binding upon the parties to
this Agreement, provided that such determination has been made in good faith. For purposes
of clause (1) of this Section 2(j), (i) if the Executive is serving as Chief Executive Officer as
of immediately prior to the Change of Control, the Executive shall be deemed to have been assigned
to a position that has duties, or to duties, that are materially different from or inconsistent
with the positions, duties, responsibilities, reporting relationship, authority or status of his
position prior to a Change of Control, if following a Change of Control, the Corporation (or the
surviving entity in the transaction) is not a reporting company under the Exchange Act, as amended,
with common stock that is actively and publicly traded on a nationally recognized stock exchange (a
“publicly-traded company”), unless the Executive immediately thereafter becomes the sole Chief
Executive Officer of the publicly traded company that is the successor (whether direct or indirect,
by purchase, merger, consolidation, acquisition of stock, or otherwise) to all or substantially all
of the business and/or assets of the Corporation, and (ii) if the Executive is serving as Chairman
of the Board or as a member of the Board as of immediately prior to the Change of Control, the
Executive shall be deemed to have been assigned to a position that has duties, or to duties, that
are materially different from or inconsistent with the positions, duties, responsibilities,
reporting relationship, authority or status of his position prior to a Change of Control, if the
Applicable Board fails to appoint as of the effective date of the Change of Control (and thereafter
nominate) the Executive to serve as the chairman of the board of the publicly traded company that
is the successor (whether direct or indirect, by purchase, merger, consolidation, acquisition of
stock, or otherwise) to all or substantially all of the business and/or assets of the Corporation
(or as a director of such board, if the Executive is not serving as the Chairman of the Board as of
immediately prior to the Change of Control).

(k) Incentive Group. “Incentive Group” means the group or category into which an Executive is
placed pursuant to the Corporation’s Management Incentive Plan or Stock Incentive Plan, as the case
may be.

(l) Management Incentive Plan. “Management Incentive Plan” means the Corporation’s Management
Incentive Plan for Covered Officers as amended and restated effective for plan years beginning on
or after January 1, 2011, and any successor plan.

(m) Notice of Termination. “Notice of Termination” means a written notice indicating the
specific termination provision in this Agreement relied upon and setting forth in reasonable detail
the facts and circumstances claimed to provide a basis for termination of the employment under the
provision so indicated.

(n) Release. “Release” means a release in the form attached hereto as Exhibit A.

(o) Retirement. “Retirement” means having reached normal retirement age as defined in the
Corporation’s qualified pension plan.

(p) Severance Benefits. “Severance Benefits” means the benefits described in Section 4 of
this Agreement, as adjusted by the applicable provisions of Section 5 of this Agreement.

(q) Stock Incentive Plans. “Stock Incentive Plans” means the stock or long-term incentive
plans that the Corporation may adopt from time to time, including without limitation, the 2004
Stock and Long-Term Incentive Plan, the 2012 Long-Term Incentive Plan, and any other successor or
predecessor plans.

(r) Subsidiary and Subsidiaries. “Subsidiary” means any corporation, bank, or other entity, a
majority of the voting control of which is directly or indirectly owned or controlled at the time
by the Corporation. “Subsidiaries” means more than one Subsidiary.

(s) Transition Pay Plan. “Transition Pay Plan” means the Transition Pay Plan of the
Corporation in effect as of the Effective Date of this Agreement, as well as any successor or
replacement plan, in which the Executive is eligible to participate.

3. Eligibility for Severance Benefits. The Corporation or its successor shall pay or
provide to the Executive the Severance Benefits if the Executive’s employment is terminated
voluntarily or involuntarily during the term of this Agreement, either:

(a) by the Corporation (1) at any time within 24 months after a Change of Control of the
Corporation, or (2) at any time prior to a Change of Control but after the commencement of any
discussions with a third party relating to a possible Change of Control of the Corporation
involving such third party, if such termination is in contemplation of such possible Change of
Control and such Change of Control is (x) actually consummated within 12 months after the date of
such termination and (y) a “change in control event” within the meaning of Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”) (such a termination, an “Anticipatory
without Cause Termination”), in either case, unless the termination is on account of the
Executive’s death or Disability or for Cause, provided that, in the case of a termination on
account of the Executive’s Disability or for Cause, the Corporation shall give Notice of
Termination to the Executive with respect thereto; or

(b) by the Executive for Good Reason (1) at any time within 24 months after a Change of
Control of the Corporation or (2) at any time after the commencement of any discussions with a
third party relating to a possible Change of Control of the Corporation involving such third party,
if such Change of Control is (x) actually consummated within 12 months after the date of such
termination and (y) a “change in control event” within the meaning of Section 409A of the Code
(such a termination, an “Anticipatory Good Reason Termination” and, together, with an Anticipatory
without Cause Termination, an “Anticipatory Termination”), and, in any such case, provided that the
Executive shall give Notice of Termination to the Corporation with respect thereto within 90 days
following the Executive’s knowledge of the initial existence of such condition or conditions, and
solely with respect to an Anticipatory Good Reason Termination, provided that the Corporation has
not remedied such alleged condition or conditions within 30 days following receipt of such notice.

For purposes of clarity, with respect to Section 3 above, an Executive who is collecting
Disability benefits will not be eligible for benefits under this Agreement. An Executive who is no
longer Disabled will be eligible for benefits under this Agreement if, in the period extending from
12 months before the Change of Control to 24 months after the Change of Control, either of the
following occur: (1) the Executive attempts to return to his position, and no such position is
available, or (2) the Executive returns to employment and is subsequently terminated pursuant to
Section 3(a) or Section 3(b) above.

4. Severance Benefits. The Executive, if eligible under Section 3, shall receive the
following Severance Benefits, adjusted by the applicable provisions of Section 5 (in addition to
other Employee Benefits that the Executive was otherwise entitled to):

(a) Base Annual Salary. In addition to any accrued compensation payable as of the Executive’s
termination of employment (either by reason of an Employment Agreement or otherwise), a lump sum
cash amount equal to the Executive’s Base Annual Salary, multiplied by 3.0.

(b) Annual Incentive Compensation. In addition to any interim award that the Corporation owes
to the Executive under Article VII of the Corporation’s Management Incentive Plan (or any similar
provisions in a successor to the Management Incentive Plan), the Executive shall be paid a lump sum
cash amount equal to 3.0 times the greater of the target Annual Award for the Executive’s Incentive
Group for (1) the calendar year during which the Change of Control occurs or (2) the calendar year
immediately preceding the calendar year in which the Change of Control occurs. In order to be
entitled to a payment pursuant to this Section 4(b), the Executive must have been a participant in
the Corporation’s Management Incentive Plan at some time during the calendar year in which the
Change of Control occurred or the calendar year immediately preceding the calendar year in which
the Change of Control occurred.

(c) Insurance Benefits. For a 36-month period after the date the employment is terminated,
the Corporation will arrange to provide to the Executive at the Corporation’s expense, with:

(1) Health Care. Health care coverage comparable to that in effect for
the Executive immediately prior to the termination (or, if more favorable to the
Executive, that furnished generally to salaried employees of the Corporation),
including, but not limited to, hospital, surgical, medical, dental, prescription,
and dependent coverage. Upon the expiration of the health care benefits required to
be provided pursuant to this subsection 4(c), the Executive shall be entitled to the
continuation of such benefits under the provisions of the Consolidated Omnibus
Budget Reconciliation Act. Health care benefits otherwise receivable by the
Executive pursuant to this subsection 4(c) shall be reduced to the extent comparable
benefits are actually received by the Executive from a subsequent employer during
the 36-month period following the date the employment is terminated and any such
benefits actually received by the Executive shall be reported by the Executive to
the Corporation.

(2) Life Insurance. Life and accidental death and dismemberment
insurance coverage (including any supplemental coverage, purchase opportunity, and
double indemnity for accidental death that was available to the Executive) equal
(including policy terms) to that in effect at the time Notice of Termination is
given (or on the date the employment is terminated if no Notice of Termination is
required) or, if more favorable to the Executive, equal to that in effect at the
date the Change of Control occurs.

(d) Retirement Benefits. The Executive will be entitled to receive retirement benefits as
provided herein, so that the total retirement benefits the Executive receives from the Corporation
will approximate the total retirement benefits the Executive would have received under all
(qualified and nonqualified) retirement plans (which shall not include severance plans) of the
Corporation in which the Executive participates were the Executive fully vested under such
retirement plans and had the Executive continued in the employ of the Corporation for 36 months
following the date of the Executive’s termination or until the Executive’s Retirement, if earlier
(provided that such additional period shall be inclusive of and shall not be in addition to any
period of service credited under any severance plan of the Corporation). The benefits specified in
this subsection 4(d) will include all ancillary benefits, such as early retirement and survivor
rights and benefits available at retirement. The amount payable to the Executive or the
Executive’s beneficiaries under this subsection 4(d) shall equal the excess of (1) the retirement
benefits that would be paid to the Executive or the Executive’s beneficiaries, under all retirement
plans of the Corporation in which the Executive participates if (A) the Executive were fully vested
under such plans, (B) the 36-month period (or the period until the Executive’s Retirement, if less)
following the date of the Executive’s termination were added to the Executive’s credited service
under such plans, (C) the terms of such plans were those most favorable to the Executive in effect
at any time during the period commencing prior to the Change of Control and ending on the date of
Notice of Termination (or on the date employment is terminated if no Notice of Termination is
required), and (D) the Executive’s highest average annual compensation as defined under such
retirement plans was calculated as if the Executive had been employed by the Corporation for a
36-month period (or the period until the Executive’s Retirement, if earlier) following the date of
the Executive’s termination and the Executive’s compensation during such period was equal to the
Executive’s compensation used to calculate the Executive’s benefit under subsections 4(a) and 4(b);
over (2) the retirement benefits that are payable to the Executive or the Executive’s beneficiaries
under all retirement plans of the Corporation in which the Executive participates. These
retirement benefits specified in this subsection 4(d) are to be provided on an unfunded basis, are
not intended to meet the qualification requirements of Section 401 of the Code, and shall be
payable solely from the general assets of the Corporation. These retirement benefits shall be
payable at the time and in the manner provided in the applicable non-qualified retirement plans to
which they relate.

(e) Outplacement. The Corporation shall pay all fees for outplacement services for the
Executive up to a maximum equal to 15% of the Executive’s Annual Base Salary used to calculate the
Executive’s benefit under subsection 4(a), plus provide a travel expense account of up to $5,000 to
reimburse job search travel; provided that such outplacement benefits shall end not later
than the last day of the second calendar year that begins after the date of termination.

(f) Stock Incentive Plans. The Executive’s rights in respect of stock options, restricted
stock, restricted stock units, and other equity awards granted pursuant to Stock Incentive Plans
held by the Executive shall be governed by the terms of the applicable Corporation Stock Incentive
Plan and the award agreements thereunder (taking into account the treatment of any such awards as
contemplated by any applicable merger or other transaction agreement entered into by the
Corporation giving rise to the Change of Control) as interpreted by the Corporation’s Compensation
Committee as such committee existed immediately prior to the Change of Control.

In computing and determining Severance Benefits under subsections 4(a), (b), (c), (d), (e),
and (f) above, a decrease in the Executive’s salary, incentive bonus potential, or insurance
benefits shall be disregarded if such decrease occurs within six months before a Change of Control,
is in contemplation of such Change of Control, and is taken to reduce the payment or benefit under,
or avoid the effect of, this Agreement. In such event, the salary, incentive bonus potential,
and/or insurance benefits used to determine Severance Benefits shall be that in effect immediately
before the decrease that is disregarded pursuant to this Section 4.

The Severance Benefits provided in subsections 4(a) and (b) above shall be paid on the 45th
business day following the date the Executive’s employment terminates (or, in the event of an
Anticipatory Termination, the 45th business day following the date of the related Change of
Control).

5. Certain Reductions in Payments. 

(a) Anything in this Agreement to the contrary notwithstanding, in the event that the
Accounting Firm (as defined below) determines that receipt of all Payments (as defined below) would
subject the Executive to the tax under Code Section 4999, the Accounting Firm shall determine
whether to reduce any of the Agreement Payments (as defined below) to the Executive so that the
Parachute Value (as defined below) of all Payments to the Executive, in the aggregate, equals the
applicable Safe Harbor Amount (as defined below). Agreement Payments shall be so reduced only if
the Accounting Firm determines that the Executive would have a greater Net After-Tax Receipt (as
defined below) of aggregate Payments if the Agreement Payments were so reduced. If the Accounting
Firm determines that the Executive would not have a greater Net After-Tax Receipt of aggregate
Payments if the Agreement Payments were so reduced, the Executive shall receive all Agreement
Payments to which the Executive is entitled hereunder.

(b) If the Accounting Firm determines that the aggregate Agreement Payments to the Executive
should be reduced so that the Parachute Value of all Payments to the Executive, in the aggregate,
equals the applicable Safe Harbor Amount, the Corporation shall promptly give the Executive notice
to that effect and a copy of the detailed calculation thereof. All determinations made by the
Accounting Firm under this Section 5 shall be binding upon the Corporation and the Executive and
shall be made as soon as reasonably practicable and in no event later than 15 days following the
date of the Executive’s termination of employment.

(c) For purposes of reducing the Agreement Payments to the Executive so that the Parachute
Value of all Payments to the Executive, in the aggregate, equals the applicable Safe Harbor Amount,
only Agreement Payments (and no other Payments) shall be reduced. The reduction contemplated by
this Section 5, if applicable, shall be made by reducing payments and benefits (to the extent such
amounts are considered Payments) under the following sections in the following order: (i) any
Payments under Section 4(e), (ii) any Payments under Section 4(d), (iii) any Payments under Section
4(c)(2), (iv) any Payments under Section 4(b), (v) any Payments under Section 4(a), and (vi) any
other cash Agreement Payments that would be made upon a termination of the Executive’s employment,
beginning with payments that would be made last in time.

(d) As a result of the uncertainty in the application of Code Section 4999 at the time of the
initial determination by the Accounting Firm hereunder, it is possible that amounts will have been
paid or distributed by the Corporation to or for the benefit of the Executive pursuant to this
Agreement that should not have been so paid or distributed (each, an “Overpayment”) or that
additional amounts that will have not been paid or distributed by the Corporation to or for the
benefit of the Executive pursuant to this Agreement could have been so paid or distributed (each,
an “Underpayment”), in each case consistent with the calculation of the applicable Safe Harbor
Amount hereunder. In the event that the Accounting Firm, based on the assertion of a deficiency by
the Internal Revenue Service against the Corporation or the Executive which the Accounting Firm
believes has a high probability of success, determines that an Overpayment has been made, any such
Overpayment paid or distributed by the Corporation to or for the benefit of the Executive shall be
repaid by the Executive to the Corporation; provided, however, that (i) no such
repayment shall be required if and to the extent such deemed repayment would not either reduce the
amount on which the Executive is subject to tax under Code Sections 1 and 4999 or generate a refund
of such taxes; and (ii) to the extent such repayment would generate a refund of such taxes, the
Executive shall only be required to pay to the Corporation the Overpayment less the amount of tax
to be refunded and to transfer the refund of such taxes to the Corporation when received. In the
event that the Accounting Firm, based on controlling precedent or substantial authority, determines
that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Corporation
to or for the benefit of the Executive, together with interest at the applicable federal rate
provided for in Code Section 7872(f)(2).

(e) In connection with making determinations under this Section 5, the Accounting Firm shall
take into account the value of any reasonable compensation for services to be rendered by the
Executive before or after the Change of Control, including the non-competition provisions
applicable to the Executive under Section 6 and any other non-competition provisions that may apply
to the Executive, and the Corporation shall cooperate in the valuation of any such services,
including any non-competition provisions.

(f) All fees and expenses of the Accounting Firm in implementing the provisions of this
Section 5 shall be borne by the Corporation, and the Corporation shall reimburse the Executive for
all reasonable legal fees incurred with respect to the calculations under this Section 5 and any
legal and accounting fees incurred with respect to disputes related thereto.

(g) In the event of any controversy with the Internal Revenue Service (or other taxing
authority) with regard to the Agreement Payments, the Executive shall permit the Corporation to
control issues related to the Agreement Payments or any excise tax thereon, provided that such
issues do not potentially materially adversely affect the Executive. In the event of any
conference with any taxing authority as to the Agreement Payments, any excise tax thereon, or
associated income taxes, the Executive shall permit the representative of the Corporation to
accompany the Executive, and the Executive and any representative of the Executive shall cooperate
with the Corporation and its representative.

(h) Definitions. The following terms shall have the following meanings for purposes of this
Section 5.

(i) “Accounting Firm” shall mean a nationally recognized certified public accounting
firm or other professional organization that is a certified public accounting firm
recognized as an expert in determinations and calculations for purposes of Section 280G of
the Code that is selected by the Executive and reasonably acceptable to the Corporation (as
it exists prior to a Change of Control) for purposes of making the applicable determinations
hereunder.

(ii) “Agreement Payment” shall mean a Payment paid or payable pursuant to this
Agreement.

(iii) “Net After-Tax Receipt” shall mean the Present Value of a Payment net of all
taxes imposed on the Executive with respect thereto under Code Sections 1 and 4999 and under
applicable state, local, and foreign laws, determined by applying the highest marginal rate
under Code Section 1 and under state, local, and foreign laws that applied to the
Executive’s taxable income for the immediately preceding taxable year, or such other rate as
such Executive shall certify, in the Executive’s sole discretion, as likely to apply to the
Executive in the relevant tax year.

(iv) “Parachute Value” of a Payment shall mean the present value as of the date of the
change in control for purposes of Code Section 280G of the portion of such Payment that
constitutes a “parachute payment” under Code Section 280G(b)(2), as determined by the
Accounting Firm for purposes of determining whether and to what extent the excise tax under
Code Section 4999 will apply to such Payment.

(v) A “Payment” shall mean any payment or distribution in the nature of compensation
(within the meaning of Code Section 280G(b)(2)) to or for the benefit of the Executive,
whether paid or payable pursuant to this Agreement or otherwise.

(vi) “Present Value” of a Payment shall mean the economic present value of a Payment as
of the date of the change in control for purposes of Code Section 280G, as determined by the
Accounting Firm using the discount rate required by Code Section 280G(d)(4).

(vii) “Safe Harbor Amount” means (x) 3.0 times the Executive’s “base amount,” within
the meaning of Code Section 280G(b)(3), minus (y) $1.00.

6. Restrictive Covenants.

(a) Confidential Information. The Executive agrees that, during his employment with
the Corporation and at all times thereafter, he shall hold in a fiduciary capacity for the benefit
of the Corporation all secret or confidential information, knowledge or data relating to the
Corporation or any subsidiary or affiliate of the Corporation (the “Affiliated Entities”) and their
respective businesses, which shall have been obtained by the Executive during the Executive’s
employment by the Corporation or during his consultation with the Corporation after his termination
of employment, and which shall not be or become public knowledge (other than by acts by the
Executive or representatives of the Executive in violation of this Agreement). Except in the good
faith performance of his duties for the Corporation, the Executive shall not, without the prior
written consent of the Corporation or as may otherwise be required by law or legal process,
communicate or divulge any such information, knowledge or data to anyone other than the Corporation
and those designated by it.

(b) Noncompetition. The Executive agrees that while employed and during the
three-year period following his termination of employment with the Corporation under circumstances
that entitle him to the Severance Benefits, he will not engage in Competition (as defined below).
The Executive shall be deemed to be engaging in “Competition” if he, directly or indirectly, owns,
manages, operates, controls or participates in the ownership, management, operation or control of
or is connected as an officer, employee, partner, director, consultant or otherwise with, or has
any financial interest in, any business (whether through a corporation or other entity) engaged in
the commercial banking business or any other financial services business that is competitive with
any portion of the business conducted by the Corporation or the Affiliated Entities in Michigan,
Indiana, Ohio, Kentucky, Pennsylvania (which as of the Effective Date shall be limited to western
Pennsylvania, defined as the portion west of Harrisburg, Pennsylvania) and West Virginia and any
other state (or regional area in Pennsylvania) in which the Corporation or the Affiliated Entities
as of the date of termination (or at any time during the twelve (12)-month period prior to the date
of termination) has (or had) a material commercial banking or other financial services business (or
has taken reasonable steps to commence operating a material commercial banking or other financial
services business). Notwithstanding the aforesaid, the restrictions herein shall not apply based
solely on the Corporation having any ownership or other interest in an indirect automobile lending
facility. Ownership for personal investment purposes only of less than two percent (2%) of the
voting stock of any publicly held corporation shall not constitute a violation hereof.

(c) Equitable Remedies. The Executive acknowledges that the protections and Severance
Benefits provided under this Agreement are in partial consideration for and contingent upon the
Executive’s agreement to comply with the covenants set forth in this Section 6, and the Corporation
would be irreparably injured by a violation of this Section 6. The Executive agrees that the
Corporation, in addition to any other remedies available to it for a breach or threatened breach,
shall be entitled to a preliminary injunction, temporary restraining order, or other equivalent
relief, restraining the Executive from any actual or threatened breach of this Section 6.

7. Withholding of Taxes. The Corporation may withhold from any amounts payable under
this Agreement all federal, state, city, or other taxes as required by law, provided that any stock
withheld will only be withheld at the minimum statutory rates.

8. Release of Corporation by the Executive. As a condition of receiving the payments
and benefits set forth in this Agreement, the Executive will be required to execute and not revoke
(i.e., the applicable revocation period shall have expired) a Release in the form attached hereto
as Exhibit A no later than the 45th business day following the date of termination of the
Executive’s employment (or, in the event of an Anticipatory Termination, not later than the 45th
business day following the date of the related Change of Control). In the event that the Executive
fails or refuses to execute a Release when requested by the Corporation under the terms of this
Agreement, then the Executive will not be entitled to receive Severance Benefits under this
Agreement, and the Corporation will have no obligation to pay Severance Benefits to the Executive
under this Agreement in the event of a Change of Control of the Corporation.

9. Acknowledgement. The Corporation hereby acknowledges that it will be difficult and
may be impossible for the Executive to find reasonably comparable employment, or to measure the
amount of damages which the Executive may suffer as a result of termination of employment
hereunder. Accordingly, the payment of the Severance Benefits by the Corporation to the Executive
in accordance with the terms of this Agreement is hereby acknowledged by the Corporation to be
reasonable and will be liquidated damages, and the Executive will not be required to mitigate the
amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor
will any profits, income, earnings, or other benefits from any source whatsoever create any
mitigation, offset, reduction, or any other obligation on the part of the Executive hereunder or
otherwise, except for a reduction in health insurance coverage as provided in subsection 4(c)(1).
The Corporation shall not be entitled to set off or counterclaim against amounts payable hereunder
with respect to any claim, debt, or obligation of the Executive.

10. Enforcement Costs; Interest. The Corporation is aware that, upon the occurrence
of a Change of Control, the Board or a stockholder of the Corporation may then cause or attempt to
cause the Corporation to refuse to comply with its obligations under this Agreement, or may cause
or attempt to cause the Corporation to institute, or may institute, litigation, arbitration, or
other legal action seeking to have this Agreement declared unenforceable, or may take, or attempt
to take, other action to deny the Executive the benefits intended under this Agreement. In these
circumstances, the purpose of this Agreement could be frustrated. It is the intent of the
Corporation that the Executive not be required to incur the expenses associated with the
enforcement of the Executive’s rights under this Agreement by litigation, arbitration, or other
legal action nor be bound to negotiate any settlement of the Executive’s rights hereunder under
threat of incurring such expenses because the cost and expense thereof would substantially detract
from the benefits intended to be extended to the Executive under this Agreement. Accordingly, if
following a Change of Control it should appear to the Executive that the Corporation has failed to
comply with any of its obligations under this Agreement, including the calculations under Section
5, or in the event that the Corporation or any other person takes any action to declare this
Agreement void or unenforceable, or institute any litigation or other legal action designed to
deny, diminish, or to recover from the Executive, the benefits intended to be provided to the
Executive hereunder, the Corporation irrevocably authorizes the Executive from time to time to
retain counsel (legal and accounting) of the Executive’s choice at the expense of the Corporation
as provided in this Section 10 to represent the Executive in connection with the calculations under
Section 5, or the initiation or defense of any litigation or other legal action, whether by or
against the Corporation or any director, officer, stockholder, or other person affiliated with the
Corporation. Notwithstanding any existing or prior attorney-client relationship between the
Corporation and such counsel, the Corporation irrevocably consents to the Executive entering into
an attorney-client relationship with such counsel, and in that connection the Corporation and the
Executive agree that a confidential relationship shall exist between the Executive and such
counsel. The reasonable fees and expenses of counsel selected from time to time by the Executive
as provided in this Section shall be paid or reimbursed to the Executive by the Corporation on a
regular, periodic basis upon presentation by the Executive of a statement or statements prepared by
such counsel in accordance with its customary practices. In any action involving this Agreement,
the Executive shall be entitled to prejudgment interest on any amounts found to be due him from the
date such amounts would have been payable to the Executive pursuant to this Agreement at an annual
rate of interest equal to the prime commercial rate in effect at The Huntington National Bank or
its successor from time to time during the prejudgment period plus 4%.

11. Indemnification. From and after the earliest to occur of a Change of Control or
termination of employment, the Corporation shall (a) for a period of five years after such
occurrence, provide the Executive (including the Executive’s heirs, executors, and administrators)
with coverage under a standard directors’ and officers’ liability insurance policy at the
Corporation’s expense, and (b) indemnify and hold harmless the Executive, to the fullest extent
permitted or authorized by the law of the State of Maryland as it may from time to time be amended,
if the Executive is (whether before or after the Change of Control) made or threatened to be made a
party to any threatened, pending, or completed action, suit, or proceeding, whether civil,
criminal, administrative, or investigative, by reason of the fact that the Executive is or was a
director, officer, or employee of the Corporation or any Subsidiary, or is or was serving at the
request of the Corporation or any Subsidiary as a director, trustee, officer, or employee of a
bank, corporation, partnership, joint venture, trust, or other enterprise. The indemnification
provided by this Section 11 shall not be deemed exclusive of any other rights to which the
Executive may be entitled under the charter or bylaws of the Corporation or of any Subsidiary, or
any agreement, vote of shareholders or disinterested directors, or otherwise, both as to action in
the Executive’s official capacity and as to action in another capacity while holding such office,
and shall continue as to the Executive after the Executive has ceased to be a director, trustee,
officer, or employee and shall inure to the benefit of the heirs, executors, and administrators of
the Executive.

12. Arbitration. The initial method for resolving any dispute arising out of this
Agreement shall be nonbinding arbitration in accordance with this Section. Except as provided
otherwise in this Section 12, arbitration pursuant to this Section 12 shall be governed by the
Commercial Arbitration Rules of the American Arbitration Association. A party wishing to obtain
arbitration of an issue shall deliver written notice to the other party, including a description of
the issue to be arbitrated. Within 15 days after either party demands arbitration, the Corporation
and the Executive shall each appoint an arbitrator. Within 15 additional days, these two
arbitrators shall appoint the third arbitrator by mutual agreement; if they fail to agree within
this 15-day period, then the third arbitrator shall be selected promptly pursuant to the rules of
the American Arbitration Association for Commercial Arbitration. The arbitration panel shall hold a
hearing in Columbus, Ohio, within 90 days after the appointment of the third arbitrator. The fees
and expenses of the arbitrator, and any American Arbitration Association fees, shall be paid by the
Corporation. Both the Corporation and the Executive may be represented by counsel (legal and
accounting) and may present testimony and other evidence at the hearing. Within 90 days after
commencement of the hearing, the arbitration panel will issue a written decision; the majority vote
of two of the three arbitrators shall control. The majority decision of the arbitrators shall not
be binding on the parties, and the parties may pursue other available legal remedies if the parties
are not satisfied with the majority decision of the arbitrator. The Executive shall be entitled to
seek specific performances of the Executive’s rights under this Agreement during the pendency of
any dispute or controversy arising under or in connection with this Agreement.

13. Employment Rights. This Agreement sets forth the Severance Benefits payable to
the Executive in the event that the Executive’s employment with the Corporation is terminated under
certain conditions specified in Section 3. This Agreement is not an employment contract nor shall
it confer upon the Executive any right to continue in the employ of the Corporation or its
Subsidiaries and shall not in any way affect the right of the Corporation or its Subsidiaries to
dismiss or otherwise terminate the Executive’s employment at any time with or without cause.

14. Arrangements Not Exclusive. The specific benefit arrangements referred to in this
Agreement are not intended to exclude the Executive from participation in or from other benefits
available to executive personnel generally or to preclude the Executive’s right to other
compensation or benefits as may be authorized by the Board at any time. The provisions of this
Agreement and any payments provided for hereunder shall not reduce any amounts otherwise payable,
or in any way diminish the Executive’s existing rights, or rights which would accrue solely as the
result of the passage of time under any compensation plan, benefit plan, incentive plan, stock
option plan, employment agreement, or other contract, plan, or arrangement except as may be
specified in such contract, plan, or arrangement. Notwithstanding anything to the contrary in this
Section 14, the Severance Benefits provided in Section 4 are in lieu of any benefits to which the
Executive would be entitled following the termination of his employment pursuant to any Employment
Agreement or pursuant to the Corporation’s Transition Pay Plan, if applicable and, in the event of
an Anticipatory Termination, the amounts payable and benefits provided under this Agreement with
respect to a specific type of payment or benefit (i.e., base salary severance) shall be reduced by
any amount paid or benefit provided to the Executive in respect of that type of payment or benefit
under the Employment Agreement or pursuant to the applicable plan in order to avoid duplication of
such payments or benefits.

15. Termination. Except for termination of employment described in Section 3, this
Agreement shall terminate if the employment of the Executive with the Corporation shall terminate
prior to a Change of Control. For purposes of this Agreement, the Executive’s employment will be
considered terminated if the Executive is informed prior to a Change of Control that the
Executive’s employment is terminated under the terms of the Employment Agreement (or the
Corporation’s Transition Pay Plan, if applicable to the Executive), and such termination was not in
contemplation of a Change of Control. In these circumstances, this Agreement shall terminate on
the Executive’s last day of active employment, and the Executive will not be eligible for payments
or benefits under this Agreement while receiving or while eligible to receive pay or benefits under
the Employment Agreement (or the Transition Pay Plan, if applicable to the Executive), or at any
time thereafter.

16. Successors; Binding Agreements. This Agreement shall inure to the benefit of and
be enforceable by the Executive’s personal and legal representatives, executors, administrators,
successors, heirs, distributees, devisees, and legatees. The Executive’s rights and benefits under
this Agreement may not be assigned, except that if the Executive dies while any amount would still
be payable to the Executive hereunder if the Executive had continued to live, all such amounts,
unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement, to
the beneficiaries designated by the Executive to receive benefits under this Agreement in a writing
on file with the Corporation at the time of the Executive’s death or, if there is no such
beneficiary, to the Executive’s estate. The Corporation will require any successor (whether direct
or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the
business and/or assets of the Corporation (or of any division or Subsidiary thereof employing the
Executive) to expressly assume and agree to perform this Agreement in the same manner and to the
same extent that the Corporation would be required to perform it if no such succession had taken
place. Failure of the Corporation to obtain such assumption and agreement prior to the
effectiveness of any such succession shall be a breach of this Agreement and shall entitle the
Executive to compensation from the Corporation in the same amount and on the same terms to which
the Executive would be entitled hereunder if the Executive terminated employment for Good Reason
following a Change of Control.

17. No Vested Interest. Neither the Executive nor the Executive’s beneficiaries shall
have any right, title, or interest in any benefit under this Agreement prior to the occurrence of
the right to the payment of such benefit.

18. Notice. For the purpose of this Agreement, notices and all other communications
provided for in this Agreement shall be in writing and shall be deemed to have been duly given when
delivered personally or mailed by U.S. registered mail, return receipt requested, postage prepaid,
addressed to the such addresses as each party may designate from time to time to the other party in
writing in the manner provided herein. Unless designated otherwise notices to the Corporation
should be sent to the Corporation at:

Huntington Bancshares Incorporated

41 South High Street

Columbus, Ohio 43215

Attention: General Counsel

Until designated otherwise, notices shall be sent to the employee at the address indicated on
the Beneficiary Designation and Notice form attached hereto as Exhibit B. If the parties by mutual
agreement supply each other with telecopier numbers for the purposes of providing notice by
facsimile, such notice shall also be proper notice under this Agreement. Notice sent by certified
or registered mail shall be effective two days after deposit by delivery to the U.S. Post Office.

19. Savings Clause. If any payments otherwise payable to the Executive under this
Agreement are prohibited or limited by any statute or regulation in effect at the time the payments
would otherwise be payable, including, without limitation, any regulation issued by the Federal
Deposit Insurance Company (the “FDIC”) that limits executive change of control payments that can be
made by an FDIC insured institution or its holding company if the institution is financially
troubled (any such limiting statute or regulation a “Limiting Rule”):

(a) the Corporation will use its best efforts to obtain the consent of the appropriate
governmental agency (whether the FDIC or any other agency) to the payment by the Corporation to the
Executive of the maximum amount that is permitted (up to the amounts that would be due to the
Executive absent the Limiting Rule); and

(b) the Executive will be entitled to elect to have apply, and therefore to receive benefits
directly under, either (i) this Agreement (as limited by the Limiting Rule) or (ii) any generally
applicable Corporation severance, separation pay, and/or salary continuation plan that may be in
effect at the time of the Executive’s termination.

Following any such election, the Executive will be entitled to receive benefits under this
Agreement or plan elected only if and to the extent the agreement or plan is applicable and subject
to its specific terms.

20. Amendment; Waiver. Prior to a Change of Control, the Corporation may amend,
without the approval of the Executive, any provision of this Agreement to the extent necessary to
comply with Section 409A of the Code so as to avoid any penalty or excise tax from being levied on
the Executive; provided, however, that the Corporation may not decrease the amount
of any benefit the Executive is entitled to receive under this Agreement without the Executive’s
consent. Regarding any other amendment, the Corporation may not amend or modify this Agreement,
and no provision may be waived, unless such amendment, modification, or waiver is agreed to in
writing and signed by the Executive and the Corporation.

21. Validity. The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement, which
shall remain in full force and effect.

22. Counterparts. This Agreement may be executed in several counterparts, each of
which shall be deemed to be an original but all of which together shall constitute one and the same
instrument.

23. Governing Law. Except as otherwise provided herein, this Agreement shall be
governed by the laws of the State of Maryland, without giving effect to any conflict of law
provisions.

24. Section 409A of the Code.

(a) General. It is intended that this Agreement shall comply with the provisions of
Section 409A of the Code and the Department of the Treasury Regulations relating thereto, or an
exemption to Section 409A of the Code, and payments, rights and benefits may only be made,
satisfied or provided under this Agreement upon an event and in a manner permitted by Section 409A
of the Code, to the extent applicable, so as not to subject the Executive to the payment of taxes
and interest under Section 409A of the Code. In furtherance of this intent, this Agreement shall
be interpreted, operated and administered in a manner consistent with these intentions. Any
payments that qualify for the “short-term deferral” exception or another exception under Section
409A of the Code shall be paid under the applicable exception. For purposes of the limitations on
nonqualified deferred compensation under Section 409A of the Code, each payment of compensation
under this Agreement shall be treated as a separate payment of compensation for purposes of
applying the Section 409A of the Code deferral election rules and the exclusion under Section 409A
of the Code for certain short-term deferral amounts. All payments to be made upon a termination of
employment under this Agreement may only be made upon a “separation from service” under Section
409A of the Code. In no event may the Executive, directly or indirectly, designate the calendar
year of any payment under this Agreement.

(b) In-Kind Benefits and Reimbursements. Notwithstanding anything to the contrary in
this Agreement, all reimbursements and in-kind benefits that constitute nonqualified deferred
compensation under Section 409A provided under this Agreement shall be made or provided in
accordance with the requirements of Section 409A of the Code, including, where applicable, the
requirement that (i) any reimbursement is for expenses incurred during the Executive’s lifetime (or
during a shorter period of time specified in this Agreement); (ii) the amount of expenses eligible
for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; (iii)
the reimbursement of an eligible expense will be made no later than the last day of the calendar
year following the year in which the expense is incurred; and (iv) the right to reimbursement or in
kind benefits is not subject to liquidation or exchange for another benefit. To the extent
necessary to ensure the provision of non-taxable medical benefits under Section 105(h) of the Code
or any similar law, the post-termination medical benefits provided to the Executive shall be
provided in a manner that ensures that such benefits are provided on a basis (including with
respect to tax treatment) that is no less favorable (including with respect to tax treatment) than
the basis on which such benefits are provided (including the tax treatment) to (A) similarly
situated executives of the Corporation who have not terminated employment or (B) if more favorable
to the Executive, the Executive as of immediately prior to the Change of Control.

(c) Delay of Payments. Notwithstanding any other provision of this Agreement to the
contrary, if the Executive is considered a “specified employee” for purposes of Section 409A of the
Code (as determined in accordance with the methodology established by the Corporation as in effect
on the date of termination), (i) any payment that constitutes nonqualified deferred compensation
within the meaning of Section 409A of the Code that is payable on account of the Executive’s
separation from service and is otherwise due to the Executive under this Agreement during the
six-month period following his separation from service (as determined in accordance with Section
409A of the Code) shall be accumulated and paid to the Executive in a lump sum on the first
business day of the seventh month following his separation from service (the “Delayed Payment
Date”), and (ii) in the event any equity compensation awards held by the Executive that vest upon
termination of the Executive’s employment constitute nonqualified deferred compensation within the
meaning of Section 409A of the Code, the delivery of shares of common stock (or cash) as applicable
in settlement of such awards shall be made on the earliest permissible payment date (including the
Delayed Payment Date) or event under Section 409A on which the shares (or cash) would otherwise be
delivered or paid. The Executive shall be entitled to interest on any delayed cash payments from
the date of termination to the Delayed Payment Date at a rate equal to the applicable federal
short-term rate in effect under Code Section 1274(d) for the month in which the Executive’s
separation from service occurs. If the Executive dies during the postponement period, the amounts
and entitlements delayed on account of Section 409A of the Code shall be paid to the personal
representative of his estate on the first to occur of the Delayed Payment Date or 30 days after the
date of the Executive’s death.

25. Prior Executive Agreement. Effective as of the Effective Date, this Agreement
supersedes the Prior Executive Agreement, and no payments or benefits of any kind shall be made
under, on account of, or by reference to the Prior Executive Agreement. The Executive acknowledges
and agrees that this Agreement satisfies in full the obligation of the Corporation to provide an
executive agreement under Section 4(i) of the Employment Agreement and that the Executive is
voluntarily and knowingly entering into this Agreement, which among other things, eliminates the
280G excise tax gross-up provision contained in Section 5 of the Prior Executive Agreement.

In witness whereof, the parties have signed this Agreement as of November 28, 2012.

CORPORATION:

HUNTINGTON BANCSHARES INCORPORATED

/s/ David L. Porteous

Name: David L. Porteous

Title: Lead Director

EXECUTIVE:

/s/ Stephen D. Steinour

STEPHEN D. STEINOUR

Exhibit A

RELEASE AGREEMENT

This Release Agreement (this “Release Agreement”) is entered into by and between Stephen D.
Steinour (the “Executive”) and Huntington Bancshares Incorporated, a Maryland Corporation (the
“Corporation”), effective as of the Effective Date (as defined in Section 5 of this Release
Agreement). All capitalized terms used herein without definition shall have the meanings ascribed
to such terms in the Executive Agreement between the Executive and the Corporation, dated as of
     , 2012 (the “Executive Agreement”).

WHEREAS, under the Executive Agreement, the Executive is entitled to certain Severance
Benefits upon certain terminations of employment in connection with a Change of Control of the
Corporation on the condition that, within forty-five (45) days of his date of termination, the
Executive executes and does not revoke a general release of claims for the benefit of the
Corporation and its affiliates;

WHEREAS, the Executive has thoroughly reviewed this Release Agreement, has entered into it
voluntarily, and has consulted with legal counsel of his choice before signing this Release
Agreement.

NOW THEREFORE, in consideration of the foregoing, and of the promises and mutual covenants
herein contained, the Corporation and the Executive agree as follows:

1. GENERAL RELEASE OF CLAIMS. In exchange for the Severance Benefits as set forth on
the attached Schedule I, the adequacy and sufficiency of which the Executive hereby expressly
acknowledges, and all other consideration related to same, the Executive does hereby RELEASE,
WAIVE, REMISE, AND FOREVER DISCHARGE the Corporation and all of the Corporation’s past, present,
and future assigns, successors, affiliates, parent and subsidiary organizations, divisions, and
corporations, officers, directors, shareholders, employees, and agents of the same, as well as
their heirs, executors, administrators, successors, assigns, and other personal representatives, in
their corporate capacities (hereinafter referred to collectively as the “Released Parties”) from
any and all claims, demands, administrative charges, complaints, legal rights, compensation,
obligation, actions, interests, debts, liabilities, damages, costs, attorneys’ fees and expenses,
or causes of action of whatever type or nature, whether legal, equitable, or administrative,
whether known or unknown to him, which he may now have against the Released Parties, either
individually, jointly, or severally, based upon acts or omissions which have occurred from the
beginning of time to the Effective Date of this Agreement relating or arising out of, either
directly or indirectly, the Executive’s employment with, compensation by, and separation from the
Corporation, including, but not limited to, claims (a) for breach of contract, wrongful termination
of employment, whether in contract or tort, intentional, reckless, or negligent infliction of
emotional distress, and (b) under the Civil Rights Act of 1964, as amended, the Ohio Civil Rights
Act, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the
Americans with Disabilities Act, the Family and Medical Leave Act, the Employee Retirement Income
Security Act, the Comprehensive Omnibus Budget Reconciliation Act, and any applicable state or
local laws of similar intent (collectively, the “Released Claims”). Notwithstanding the foregoing,
the Released Claims do not include, and this Release Agreement does not release, any (i) rights to
Severance Benefits under the Executive Agreement, rights with respect to the enforcement of the
Corporation’s obligations in respect of the Severance Benefits under Sections 9, 10, 12 and 16 of
the Executive Agreement and rights to legal and accounting fees as expressly provided under Section
5(f) of the Executive Agreement in the event of a dispute after the Effective Date with the
Internal Revenue Service, (ii) rights to indemnification the Executive may have under applicable
law, the by-laws or certificate of incorporation of the Corporation, the Executive Agreement or any
other indemnification arrangement or director and officer liability policy, as a result of having
served as an officer, employee or director of the Corporation or any of its affiliates; (iii)
vested rights the Executive may have under the Corporation’s welfare and retirement plans and
payment in respect of accrued but unused vacation days through the date of termination; (iv) any
claims that the Executive may file for workers’ compensation benefits; and (v) any claims that
arise after the Effective Date of this Agreement or that the Executive may not by law release
through a settlement agreement such as this.

2. COVENANT NOT TO SUE. The Executive agrees not to file or initiate a lawsuit in any
court or initiate an arbitration proceeding asserting any of the Released Claims against any of the
Released Parties. The Executive further agrees that he will not permit himself to be a member of
any class in any court or in any arbitration proceeding seeking relief against the Released Parties
based on any of the Released Claims, and that even if a court or arbitrator rules that he may not
waive a claim released by this Release Agreement, he will not accept any money damages or other
relief in connection with any other action or proceeding asserting any of the Released Claims
against any of the Released Parties.

3. NO PENDING ACTIONS. The Executive represents that as of the date he signs this
Release Agreement, the Executive has not filed or initiated, or caused to be filed or initiated,
any complaint, claim, action or lawsuit of any kind against any of the Released Parties in any
federal, state or local court or agency.

4. WAIVER OF DAMAGES. Nothing in this Release Agreement is intended to or shall
interfere with the Executive’s right to participate in a proceeding with any appropriate federal,
state or local government agency enforcing federal, state or local discrimination laws and/or
cooperating with said agency in its investigation. The Executive shall not, however, be entitled
to receive any relief, recovery or monies in connection with any complaint or charge brought
against any of the Released Parties with respect to any Released Claims, without regard as to who
brought any such complaint or charge.

5. TIME TO CONSIDER AND REVOKE; ADVICE OF COUNSEL. The Executive acknowledges that he
has been afforded at least twenty-one (21) days to consider whether to sign this Release Agreement.
If the Executive elects not to take the full twenty-one (21) days to consider this Release
Agreement, the Executive acknowledges having done so voluntarily and with the understanding that
the Executive is waiving a statutory right to do so. If the Executive chooses to execute this
Release Agreement, the Executive has the right to revoke the acceptance at any time within seven
(7) days of signing (the “Revocation Period”) by delivering a written revocation to Huntington
Bancshares Incorporated, 41 South High Street

Columbus, Ohio 43215, Attention: General Counsel. Any such revocation shall state, “I
hereby revoke my Release Agreement” and must be signed by the Executive and received by the
Corporation before the end of the Revocation Period. So long as the Executive does not revoke this
Release Agreement, it shall become effective on the day following the last day of the Revocation
Period (the “Effective Date”). If the Executive decides to revoke this Release Agreement, the
revocation shall make this Release Agreement null and void and shall be deemed effective on the
date received by the Corporation. The Corporation hereby advises the Executive to consult with an
attorney before executing this Release Agreement.

6. SEVERIBILITY. If for any reason any one or more of the provisions of this Release
Agreement shall be held or deemed to be inoperative, unenforceable or invalid by a court of
competent jurisdiction, such circumstances shall not have the effect of rendering such provision
invalid in any other case or rendering any other provisions of this Release Agreement inoperative,
unenforceable or invalid. In any such event, such provision shall be read by such court to be as
broad and restrictive as possible without being found to be inoperative, unenforceable or invalid.

7. GOVERNING LAW. This Release Agreement shall be governed by the laws of the State
of Maryland, without giving effect to any conflict of law provisions.

8. COUNTERPARTS. This Release Agreement may be executed in counterparts and each
counterpart will be deemed an original.

9. SECTION HEADINGS. Section headings contained in this Release Agreement are for
convenience of reference only and shall not affect the meaning of any provision herein.

[Signature page to follow]

1

PLEASE READ AND CONSIDER THIS RELEASE AGREEMENT CAREFULLY BEFORE EXECUTING. THIS RELEASE
AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. IN EXECUTING THIS RELEASE AGREEMENT,
THE EXECUTIVE EXPRESSLY REPRESENTS THAT HE IS DOING SO VOLUNTARILY AND OF HIS OWN FREE WILL AND
THAT HE IS OF SOUND MIND AT THE TIME OF SAID EXECUTION.

IN WITNESS WHEREOF, each of the Executive and the Corporation by its duly authorized agent has
hereunder executed this Release Agreement as of the date set forth below.

/S/ Stephen D Steinour

Stephen D. Steinour

Date: November 28, 2012

	 	 	 	HUNTINGTON BANCSHARES INCORPORATED

Name:

Title:

Date:

Exhibit B

Beneficiary Designation and Notice Form

Beneficiary Designation

In the event of my death, I direct that any amounts due me under the Agreement to which this
Beneficiary Designation is attached shall be distributed to the person designated below. If no
beneficiary shall be living to receive such assets they shall be paid to the administrator or
executor of my estate.

Notice

Until notified otherwise, pursuant to Section 18 of the Agreement, notices should be sent to
me at the following address:

Street Address

City, State and Zip Code

Date STEPHEN D. STEINOUR

Beneficiary

Relationship to Executive

2EX-10.3

EXHIBIT 10.3

EXECUTIVE AGREEMENT

This is an agreement (this “Agreement”) among Huntington Bancshares Incorporated, a Maryland
corporation with its principal office located at the Huntington Center, 41 South High Street,
Columbus, Ohio 43215, and its Subsidiaries (individually and collectively, the “Corporation”) and
[NAME] (the “Executive”), effective as of December 1, 2012 (the “Effective Date”).

Recitals:

The Corporation considers the establishment and maintenance of a sound and vital management to
be part of its overall corporate strategy and to be essential to protecting and enhancing the
interests of the Corporation and its shareholders. As part of this corporate strategy, the
Corporation wishes to act to retain its key executive officers notwithstanding any actual or
threatened change in control of the Corporation.

The Executive is a key executive officer of the Corporation or one of its Subsidiaries and the
Executive’s services, experience and knowledge of the affairs of the Corporation, and reputation
and contacts in the industry, are extremely valuable to the Corporation. The Executive’s continued
dedication, availability, advice, and counsel to the Corporation are deemed important to the
Corporation, its Board of Directors (the “Board”), and its shareholders. It is, therefore, in the
best interests of the Corporation to secure the continued services of the Executive notwithstanding
any actual or threatened change in control of the Corporation. Accordingly, the Board has approved
this Agreement with the Executive and authorized its execution and delivery on behalf of the
Corporation.

Agreement:

1. Term of Agreement. This Agreement will begin on the Effective Date and will continue in
effect through December 31, 2013. On December 31, 2013, and on December 31 of each successive year
thereafter during the term (each a “Renewal Date”), the term of this Agreement will be extended
automatically for an additional one-year period unless, not later than 30 days prior to such
Renewal Date, the Corporation gives written notice to the Executive that it has elected not to
extend this Agreement. Notwithstanding the above, if a “Change of Control” (as defined herein) of
the Corporation occurs during the term of this Agreement, the term of this Agreement will be
extended for 24 months beyond the end of the month in which any such Change of Control occurs.

2. Definitions. The following defined terms shall have the meanings set forth below, for
purposes of this Agreement:

(a) Annual Award. “Annual Award” means the cash payment paid or payable to the Executive with
respect to a fiscal year under the Corporation’s Management Incentive Plan, including any portion
thereof that has been earned but deferred.

(b) Base Annual Salary. “Base Annual Salary” means the greater of (1) the highest annual rate
of base salary in effect for the Executive during the 12-month period immediately prior to a Change
of Control, or (2) the annual rate of base salary in effect at the time Notice of Termination is
given (or on the date employment is terminated if no Notice of Termination is required).

(c) Cause. “Cause” means any of the following:

(1) The Executive shall have committed a felony or an intentional act of gross
misconduct, moral turpitude, fraud, embezzlement, or theft in connection with the
Executive’s duties or in the course of the Executive’s employment with the
Corporation or any Subsidiary, and the Board shall have determined that such act is
materially harmful to the Corporation;

(2) The Corporation or any Subsidiary shall have been ordered or directed by
any federal or state regulatory agency with jurisdiction to terminate or suspend the
Executive’s employment and such order or directive has not been vacated or reversed
upon appeal; or

(3) After being notified in writing by the Board to cease any particular
Competitive Activity (as defined herein), the Executive shall have continued such
Competitive Activity while employed by the Corporation and the Board shall have
determined that such act is materially harmful to the Corporation.

For purposes of this Agreement, no act or failure to act on the part of the Executive shall be
deemed “intentional” if it was due primarily to an error in judgment or negligence, but shall be
deemed “intentional” only if done or omitted to be done by the Executive not in good faith and
without reasonable belief that the Executive’s action or omission was in the best interest of the
Corporation. Notwithstanding the foregoing, the Executive shall not be deemed to have been
terminated for “Cause” under this Agreement unless and until there shall have been delivered to the
Executive a copy of a resolution duly adopted by the affirmative vote of not less than
three-quarters of the Board, or if, following the Change of Control, the Corporation is not the
ultimate parent corporation of the entities affiliated with the Corporation and is not publicly
traded, the board of directors of the ultimate parent of the Corporation (the “Applicable Board”),
at a meeting called and held for such purposes, after reasonable notice to the Executive and an
opportunity for the Executive, together with the Executive’s counsel (if the Executive chooses to
have counsel present at such meeting), to be heard before the Applicable Board, finding that, in
the good faith opinion of the Applicable Board, the Executive had committed an act constituting
“Cause” as defined in this Agreement and specifying the particulars of the act constituting “Cause”
in detail. Nothing in this Agreement will limit the right of the Executive or the Executive’s
beneficiaries to contest the validity or propriety of any such determination.

(d) Change of Control. “Change of Control” means the occurrence of any of the following:

(1) Any “person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934 (“the Exchange Act”) as in effect as of the date of
this Agreement) becomes the beneficial owner, directly or indirectly, of securities
of the Corporation representing 25% or more of the combined voting power of the
Corporation’s then-outstanding securities entitled to vote generally in the election
of directors (“voting securities”); provided, however, that, for
purposes of this Section 2(d)(1), the following acquisitions shall not constitute a
Change of Control: (i) any acquisition directly from the Corporation, (ii) any
acquisition by the Corporation, or (iii) any acquisition by any employee benefit
plan (or related trust) sponsored or maintained by the Corporation of any of its
Subsidiaries; or

(2) Individuals who, as of the Effective Date, constitute the Board of
Directors of the Corporation (the “Incumbent Board”) cease for any reason to
constitute at least a majority of the Board; provided, however,
that, any individual becoming a director subsequent to the date hereof whose
election, or nomination for election, was approved by a vote of at least a majority
of the directors comprising the Incumbent Board shall be considered as though such
individual were a member of the Incumbent Board, but excluding for this purpose any
such individual whose initial assumption of office occurs as a result of either an
actual or threatened election contest (as such terms are used in Regulation 14A
promulgated under the Exchange Act) or other actual or threatened solicitation of
proxies or consents by or on behalf of a person other than the Board; or

(3) Any of the following occurs:

(A) consummation of a merger, statutory share exchange, consolidation or similar
corporate transaction involving the Corporation, other than any such transaction in which
the voting securities of the Corporation immediately prior to the transaction continue to
represent (either by remaining outstanding or being converted into securities of the
“surviving entity,” which for purposes of this Agreement shall include the corporation or
other entity resulting from such transaction and/or the corporation or other entity that,
as a result of the transaction, owns the Corporation or all or substantially all of the
Corporation’s assets, either directly or indirectly) more than 50% of the combined voting
power of the Corporation or surviving entity resulting from such transaction immediately
after the transaction with another entity;

(B) consummation of a sale, exchange, lease, mortgage, pledge, transfer, or other
disposition (in a single transaction or a series of related transactions) of all or
substantially all of the assets of the Corporation which shall include, without
limitation, the sale of assets or earning power aggregating more than 50% of the assets
or earning power of the Corporation on a consolidated basis, other than any such
transaction in which a majority of the voting securities of the surviving entity are,
immediately following consummation of such transaction, beneficially owned by the
individuals and entities that were the beneficial owners of the Corporation’s voting
securities immediately prior to the transaction;

(C) a liquidation or dissolution of the Corporation;

(D) a reorganization, reverse stock split, or recapitalization of the Corporation
which would result in any of the foregoing; or

(E) a transaction or series of related transactions having, directly or indirectly,
the same effect as any of the foregoing.

(e) Competitive Activity. “Competitive Activity” means the Executive’s participation while
employed by the Corporation, without the written consent of an officer of the Corporation, in the
management of any business enterprise if such enterprise engages in substantial and direct
competition with the Corporation and such enterprise’s revenues derived from any product or service
competitive with any product or service of the Corporation amounted to 10% or more of such
enterprise’s revenues for its most recently completed fiscal year and if the Corporation’s revenues
for such product or service amounted to 10% of the Corporation’s revenues for its most recently
completed fiscal year. “Competitive Activity” will not include (i) the mere ownership of
securities in any such enterprise and the exercise of rights appurtenant thereto or (ii)
participation in the management of any such enterprise other than in connection with the
competitive operations of such enterprise.

(f) Disability; Disabled. “Disability” or “Disabled” means that, as a result of the
Executive’s incapacity due to physical or mental illness, the Executive shall be eligible for the
receipt of benefits under the Corporation’s long-term disability plan.

(g) Employee Benefits. “Employee Benefits” means the perquisites, benefits, and service
credit for benefits as provided under any and all employee retirement income and welfare benefit
policies, plans, programs, or arrangements in which the Executive is entitled to participate,
including, without limitation, any stock option, stock purchase, restricted stock, stock
appreciation, interim awards and accrued and unpaid bonuses under the Management Incentive Plan,
other awards under Stock Incentive Plans, savings, pension, supplemental executive retirement, or
other retirement income or welfare benefit, deferred compensation, incentive compensation, group or
other life, health, medical/hospital, or other insurance (whether funded by actual insurance or
self-insured by the Corporation), disability, salary continuation, expense reimbursement, and other
employee benefit policies, plans, programs, or arrangements that may now exist or any equivalent
successor policies, plans, programs, or arrangements that may be adopted hereafter, providing
perquisites, benefits, and service credit for benefits at least as great in a monetary equivalent
as are payable thereunder prior to a Change of Control.

(h) Equity Incentive Award. “Equity Incentive Award” means the awards under the Stock
Incentive Plans (taking into account both regular and special incentive opportunities, if such
distinction is applicable), with the value of the Executive’s award potential to be determined on a
basis consistent with the methodology and assumptions used by the Corporation prior to the Change
of Control and taking into account, to the extent applicable, the design features applicable to
such awards, including without limitation, the target and maximum award levels, the performance
goals and the vesting terms (including rights upon termination of employment).

(i) Good Reason. “Good Reason” means the occurrence of any one or more of the following:

(1) The assignment to the Executive after a Change of Control of the
Corporation to a position that has or to duties that are materially different from
or inconsistent with the positions, duties, responsibilities, reporting
relationship, authority or status of the Executive’s positions or duties at the
Corporation at any time during the 12-month period prior to such Change of Control
(including, without limitation, the duties, responsibilities, reporting
relationship, authority and status associated with being an executive of a
publicly-traded corporation), or which result in a significant change in the
Executive’s authority, duties, responsibilities, reporting relationship or status
(including, without limitation, the duties, responsibilities, authority, reporting
relationship and status associated with being an executive of a publicly-traded
corporation) from those applicable to his or her position at the Corporation at any
time during the 12-month period prior to such Change of Control;

(2) A reduction by the Corporation in the Executive’s Base Annual Salary as of
the day immediately prior to a Change of Control of the Corporation, or the failure
to grant salary increases and bonus payments on a basis comparable to those granted
to other executives of the Corporation, or a reduction of the Executive’s Annual
Award and Equity Incentive Award potential which existed immediately prior to such
Change of Control under the Corporation’s Management Incentive Plan, Stock Incentive
Plans, or any successor plans;

(3) A demand by the Corporation that the Executive relocate to a location in
excess of 35 miles from the location where the Executive is currently based, or in
the event of any such relocation with the Executive’s express written consent, the
failure of the Corporation or a Subsidiary to pay (or reimburse the Executive for)
all reasonable moving expenses incurred by the Executive relating to a change of
principal residence in connection with such relocation and to indemnify the
Executive against any loss in the sale of the Executive’s principal residence in
connection with any such change of residence, all to the effect that the Executive
shall incur no loss on an after-tax basis;

(4) The failure of the Corporation to obtain a satisfactory agreement from any
successor to the Corporation to assume and agree to perform this Agreement, as
contemplated in Section 16 of this Agreement;

(5) The failure of the Corporation to provide the Executive with substantially
the same Employee Benefits that were provided to him immediately prior to the Change
of Control, or with a package of Employee Benefits that, though one or more of such
benefits may vary from those in effect immediately prior to such Change of Control,
is substantially comparable in all material respects to such Employee Benefits taken
as a whole; or

(6) Any reduction in the Executive’s compensation or benefits or adverse change
in the Executive’s location or duties, if such reduction or adverse change occurs at
any time after the commencement of any discussion with a third party relating to a
possible Change of Control of the Corporation involving such third party, if such
reduction or adverse change is in contemplation of such possible Change of Control
and such Change of Control is actually consummated within 12 months after the date
of such reduction or adverse change.

The existence of Good Reason shall not be affected by the Executive’s incapacity due to physical or
mental illness. The Executive’s continued employment shall not constitute a waiver of the
Executive’s rights with respect to any circumstance constituting Good Reason under this Agreement.
The Executive’s determination of Good Reason shall be conclusive and binding upon the parties to
this Agreement, provided that such determination has been made in good faith.

(j) Incentive Group. “Incentive Group” means the group or category into which an Executive is
placed pursuant to the Corporation’s Management Incentive Plan or Stock Incentive Plan, as the case
may be.

(k) Management Incentive Plan. “Management Incentive Plan” means the Corporation’s Management
Incentive Plan for Covered Officers as amended and restated effective for plan years beginning on
or after January 1, 2011, and the Management Incentive Plan for Non-Covered Employees effective for
plan years beginning on or after January 1, 2011, as applicable to the Executive, and, in each
case, any successor plan.

(l) Notice of Termination. “Notice of Termination” means a written notice indicating the
specific termination provision in this Agreement relied upon and setting forth in reasonable detail
the facts and circumstances claimed to provide a basis for termination of the employment under the
provision so indicated.

(m) Release. “Release” means a release in the form attached hereto as Exhibit A.

(n) Retirement. “Retirement” means having reached normal retirement age as defined in the
Corporation’s qualified pension plan.

(o) Severance Benefits. “Severance Benefits” means the benefits described in Section 4 of
this Agreement, as adjusted by the applicable provisions of Section 5 of this Agreement.

(p) Stock Incentive Plans. “Stock Incentive Plans” means the stock or long-term incentive
plans that the Corporation may adopt from time to time, including without limit-ation, the 2004
Stock and Long-Term Incentive Plan, the 2012 Long-Term Incentive Plan, and any other successor or
predecessor plans.

(q) Subsidiary and Subsidiaries. “Subsidiary” means any corporation, bank, or other entity, a
majority of the voting control of which is directly or indirectly owned or controlled at the time
by the Corporation. “Subsidiaries” means more than one Subsidiary.

(r) Transition Pay Plan. “Transition Pay Plan” means the Transition Pay Plan of the
Corporation in effect as of the Effective Date of this Agreement, as well as any successor or
replacement plan, in which the Executive is eligible to participate.

3. Eligibility for Severance Benefits. The Corporation or its successor shall pay or provide
to the Executive the Severance Benefits if the Executive’s employment is terminated voluntarily or
involuntarily during the term of this Agreement, either:

(a) by the Corporation (1) at any time within 24 months after a Change of Control of the
Corporation, or (2) at any time prior to a Change of Control but after the commencement of any
discussions with a third party relating to a possible Change of Control of the Corporation
involving such third party, if such termination is in contemplation of such possible Change of
Control and such Change of Control is (x) actually consummated within 12 months after the date of
such termination and (y) a “change in control event” within the meaning of Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”) (such a termination, an “Anticipatory
without Cause Termination”), in either case, unless the termination is on account of the
Executive’s death or Disability or for Cause, provided that, in the case of a termination on
account of the Executive’s Disability or for Cause, the Corporation shall give Notice of
Termination to the Executive with respect thereto; or

(b) by the Executive for Good Reason (1) at any time within 24 months after a Change of
Control of the Corporation or (2) at any time after the commencement of any discussions with a
third party relating to a possible Change of Control of the Corporation involving such third party,
if such Change of Control is (x) actually consummated within 12 months after the date of such
termination and (y) a “change in control event” within the meaning of Section 409A of the Code
(such a termination, an “Anticipatory Good Reason Termination” and, together, with an Anticipatory
without Cause Termination, an “Anticipatory Termination”), and, in any such case, provided that the
Executive shall give Notice of Termination to the Corporation with respect thereto within 90 days
following the Executive’s knowledge of the initial existence of such condition or conditions, and
solely with respect to an Anticipatory Good Reason Termination, provided that the Corporation has
not remedied such alleged condition or conditions within 30 days following receipt of such notice.

For purposes of clarity, with respect to Section 3 above, an Executive who is collecting
Disability benefits will not be eligible for benefits under this Agreement. An Executive who is no
longer Disabled will be eligible for benefits under this Agreement if, in the period extending from
12 months before the Change of Control to 24 months after the Change of Control, either of the
following occur: (1) the Executive attempts to return to his or her position, and no such position
is available, or (2) the Executive returns to employment and is subsequently terminated pursuant to
Section 3(a) or Section 3(b) above.

4. Severance Benefits. The Executive, if eligible under Section 3, shall receive the
following Severance Benefits, adjusted by the applicable provisions of Section 5 (in addition to
other Employee Benefits that the Executive was otherwise entitled to):

(a) Base Annual Salary. In addition to any accrued compensation payable as of the Executive’s
termination of employment, a lump sum cash amount equal to the Executive’s Base Annual Salary,
multiplied by 2.5.

(b) Annual Incentive Compensation. In addition to any interim award that the Corporation owes
to the Executive under Article VII of the Corporation’s Management Incentive Plan (or any similar
provisions in a successor to the Management Incentive Plan), the Executive shall be paid a lump sum
cash amount equal to 2.5 times the greater of the target Annual Award for the Executive’s Incentive
Group for (1) the calendar year during which the Change of Control occurs or (2) the calendar year
immediately preceding the calendar year in which the Change of Control occurs. In order to be
entitled to a payment pursuant to this Section 4(b), the Executive must have been a participant in
the Corporation’s Management Incentive Plan at some time during the calendar year in which the
Change of Control occurred or the calendar year immediately preceding the calendar year in which
the Change of Control occurred.

(c) Insurance Benefits. For a 30-month period after the date the employment is terminated,
the Corporation will arrange to provide to the Executive at the Corporation’s expense, with:

(1) Health Care. Health care coverage comparable to that in effect for
the Executive immediately prior to the termination (or, if more favorable to the
Executive, that furnished generally to salaried employees of the Corporation),
including, but not limited to, hospital, surgical, medical, dental, prescription,
and dependent coverage. Upon the expiration of the health care benefits required to
be provided pursuant to this subsection 4(c), the Executive shall be entitled to the
continuation of such benefits under the provisions of the Consolidated Omnibus
Budget Reconciliation Act. Health care benefits otherwise receivable by the
Executive pursuant to this subsection 4(c) shall be reduced to the extent comparable
benefits are actually received by the Executive from a subsequent employer during
the 30-month period following the date the employment is terminated and any such
benefits actually received by the Executive shall be reported by the Executive to
the Corporation.

(2) Life Insurance. Life and accidental death and dismemberment
insurance coverage (including any supplemental coverage, purchase opportunity, and
double indemnity for accidental death that was available to the Executive) equal
(including policy terms) to that in effect at the time Notice of Termination is
given (or on the date the employment is terminated if no Notice of Termination is
required) or, if more favorable to the Executive, equal to that in effect at the
date the Change of Control occurs.

(d) Retirement Benefits. The Executive will be entitled to receive retirement benefits as
provided herein, so that the total retirement benefits the Executive receives from the Corporation
will approximate the total retirement benefits the Executive would have received under all
(qualified and nonqualified) retirement plans (which shall not include severance plans) of the
Corporation in which the Executive participates were the Executive fully vested under such
retirement plans and had the Executive continued in the employ of the Corporation for 30 months
following the date of the Executive’s termination or until the Executive’s Retirement, if earlier
(provided that such additional period shall be inclusive of and shall not be in addition to any
period of service credited under any severance plan of the Corporation). The benefits specified in
this subsection 4(d) will include all ancillary benefits, such as early retirement and survivor
rights and benefits available at retirement. The amount payable to the Executive or the
Executive’s beneficiaries under this subsection 4(d) shall equal the excess of (1) the retirement
benefits that would be paid to the Executive or the Executive’s beneficiaries, under all retirement
plans of the Corporation in which the Executive participates if (A) the Executive were fully vested
under such plans, (B) the 30-month period (or the period until the Executive’s Retirement, if less)
following the date of the Executive’s termination were added to the Executive’s credited service
under such plans, (C) the terms of such plans were those most favorable to the Executive in effect
at any time during the period commencing prior to the Change of Control and ending on the date of
Notice of Termination (or on the date employment is terminated if no Notice of Termination is
required), and (D) the Executive’s highest average annual compensation as defined under such
retirement plans was calculated as if the Executive had been employed by the Corporation for a
30-month period (or the period until the Executive’s Retirement, if earlier) following the date of
the Executive’s termination and the Executive’s compensation during such period was equal to the
Executive’s compensation used to calculate the Executive’s benefit under subsections 4(a) and 4(b);
over (2) the retirement benefits that are payable to the Executive or the Executive’s beneficiaries
under all retirement plans of the Corporation in which the Executive participates. These
retirement benefits specified in this subsection 4(d) are to be provided on an unfunded basis, are
not intended to meet the qualification requirements of Section 401 of the Code, and shall be
payable solely from the general assets of the Corporation. These retirement benefits shall be
payable at the time and in the manner provided in the applicable non-qualified retirement plans to
which they relate.

(e) Outplacement. The Corporation shall pay all fees for outplacement services for the
Executive up to a maximum equal to 15% of the Executive’s Annual Base Salary used to calculate the
Executive’s benefit under subsection 4(a), plus provide a travel expense account of up to $5,000 to
reimburse job search travel; provided that such outplacement benefits shall end not later
than the last day of the second calendar year that begins after the date of termination.

(f) Stock Incentive Plans. The Executive’s rights in respect of stock options, restricted
stock, restricted stock units, and other equity awards granted pursuant to Stock Incentive Plans
held by the Executive shall be governed by the terms of the applicable Corporation Stock Incentive
Plan and the award agreements thereunder (taking into account the treatment of any such awards as
contemplated by any applicable merger or other transaction agreement entered into by the
Corporation giving rise to the Change of Control) as interpreted by the Corporation’s Compensation
Committee as such committee existed immediately prior to the Change of Control.

In computing and determining Severance Benefits under subsections 4(a), (b), (c), (d), (e),
and (f) above, a decrease in the Executive’s salary, incentive bonus potential, or insurance
benefits shall be disregarded if such decrease occurs within six months before a Change of Control,
is in contemplation of such Change of Control, and is taken to reduce the payment or benefit under,
or avoid the effect of, this Agreement. In such event, the salary, incentive bonus potential,
and/or insurance benefits used to determine Severance Benefits shall be that in effect immediately
before the decrease that is disregarded pursuant to this Section 4.

The Severance Benefits provided in subsections 4(a) and (b) above shall be paid on the 45th
business day following the date the Executive’s employment terminates (or, in the event of an
Anticipatory Termination, the 45th business day following the date of the related Change of
Control).

5. Certain Reductions in Payments.

(a) Anything in this Agreement to the contrary notwithstanding, in the event that the
Accounting Firm (as defined below) determines that receipt of all Payments (as defined below) would
subject the Executive to the tax under Code Section 4999, the Accounting Firm shall determine
whether to reduce any of the Agreement Payments (as defined below) to the Executive so that the
Parachute Value (as defined below) of all Payments to the Executive, in the aggregate, equals the
applicable Safe Harbor Amount (as defined below). Agreement Payments shall be so reduced only if
the Accounting Firm determines that the Executive would have a greater Net After-Tax Receipt (as
defined below) of aggregate Payments if the Agreement Payments were so reduced. If the Accounting
Firm determines that the Executive would not have a greater Net After-Tax Receipt of aggregate
Payments if the Agreement Payments were so reduced, the Executive shall receive all Agreement
Payments to which the Executive is entitled hereunder.

(b) If the Accounting Firm determines that the aggregate Agreement Payments to the Executive
should be reduced so that the Parachute Value of all Payments to the Executive, in the aggregate,
equals the applicable Safe Harbor Amount, the Corporation shall promptly give the Executive notice
to that effect and a copy of the detailed calculation thereof. All determinations made by the
Accounting Firm under this Section 5 shall be binding upon the Corporation and the Executive and
shall be made as soon as reasonably practicable and in no event later than 15 days following the
date of the Executive’s termination of employment.

(c) For purposes of reducing the Agreement Payments to the Executive so that the Parachute
Value of all Payments to the Executive, in the aggregate, equals the applicable Safe Harbor Amount,
only Agreement Payments (and no other Payments) shall be reduced. The reduction contemplated by
this Section 5, if applicable, shall be made by reducing payments and benefits (to the extent such
amounts are considered Payments) under the following sections in the following order: (i) any
Payments under Section 4(e), (ii) any Payments under Section 4(d), (iii) any Payments under Section
4(c)(2), (iv) any Payments under Section 4(b), (v) any Payments under Section 4(a), and (vi) any
other cash Agreement Payments that would be made upon a termination of the Executive’s employment,
beginning with payments that would be made last in time.

(d) As a result of the uncertainty in the application of Code Section 4999 at the time of the
initial determination by the Accounting Firm hereunder, it is possible that amounts will have been
paid or distributed by the Corporation to or for the benefit of the Executive pursuant to this
Agreement that should not have been so paid or distributed (each, an “Overpayment”) or that
additional amounts that will have not been paid or distributed by the Corporation to or for the
benefit of the Executive pursuant to this Agreement could have been so paid or distributed (each,
an “Underpayment”), in each case consistent with the calculation of the applicable Safe Harbor
Amount hereunder. In the event that the Accounting Firm, based on the assertion of a deficiency by
the Internal Revenue Service against the Corporation or the Executive which the Accounting Firm
believes has a high probability of success, determines that an Overpayment has been made, any such
Overpayment paid or distributed by the Corporation to or for the benefit of the Executive shall be
repaid by the Executive to the Corporation, together with interest at the applicable federal rate
provided for in Code Section 7872(f)(2); provided, however, that (i) no such
repayment shall be required if and to the extent such deemed repayment would not either reduce the
amount on which the Executive is subject to tax under Code Sections 1 and 4999 or generate a refund
of such taxes; and (ii) to the extent such repayment would generate a refund of such taxes, the
Executive shall only be required to pay to the Corporation the Overpayment less the amount of tax
to be refunded and to transfer the refund of such taxes to the Corporation when received. In the
event that the Accounting Firm, based on controlling precedent or substantial authority, determines
that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Corporation
to or for the benefit of the Executive, together with interest at the applicable federal rate
provided for in Code Section 7872(f)(2).

(e) In connection with making determinations under this Section 5, the Accounting Firm shall
take into account the value of any reasonable compensation for services to be rendered by the
Executive before or after the Change of Control, including any non-competition provisions that may
apply to the Executive (whether set forth in this Agreement or otherwise), and the Corporation
shall cooperate in the valuation of any such services, including any non-competition provisions.

(f) All fees and expenses of the Accounting Firm in implementing the provisions of this
Section 5 shall be borne by the Corporation, and the Corporation shall reimburse the Executive for
all reasonable legal fees incurred with respect to the calculations under this Section 5 and any
legal and accounting fees incurred with respect to disputes related thereto.

(g) In the event of any controversy with the Internal Revenue Service (or other taxing
authority) with regard to the Agreement Payments, the Executive shall permit the Corporation to
control issues related to the Agreement Payments or any excise tax thereon, provided that such
issues do not potentially materially adversely affect the Executive. In the event of any
conference with any taxing authority as to the Agreement Payments, any excise tax thereon, or
associated income taxes, the Executive shall permit the representative of the Corporation to
accompany the Executive, and the Executive and any representative of the Executive shall cooperate
with the Corporation and its representative.

(h) Definitions. The following terms shall have the following meanings for purposes of this
Section 5.

(i) “Accounting Firm” shall mean a nationally recognized certified public accounting
firm (which accounting firm shall in no event be the accounting firm for the entity seeking
to effectuate such change of control) or other professional services organization that is a
certified public accounting firm recognized as an expert in determinations and calculations
for purposes of Section 280G of the Code that is selected by the Corporation (as it exists
prior to a Change of Control) and reasonably acceptable to the Executive for purposes of
making the applicable determinations hereunder.

(ii) “Agreement Payment” shall mean a Payment paid or payable pursuant to this
Agreement.

(iii) “Net After-Tax Receipt” shall mean the Present Value of a Payment net of all
taxes imposed on the Executive with respect thereto under Code Sections 1 and 4999 and under
applicable state, local, and foreign laws, determined by applying the highest marginal rate
under Code Section 1 and under state, local, and foreign laws that applied to the
Executive’s taxable income for the immediately preceding taxable year, or such other rate as
such Executive shall certify, in the Executive’s sole discretion, as likely to apply to the
Executive in the relevant tax year.

(iv) “Parachute Value” of a Payment shall mean the present value as of the date of the
change in control for purposes of Code Section 280G of the portion of such Payment that
constitutes a “parachute payment” under Code Section 280G(b)(2), as determined by the
Accounting Firm for purposes of determining whether and to what extent the excise tax under
Code Section 4999 will apply to such Payment.

(v) A “Payment” shall mean any payment or distribution in the nature of compensation
(within the meaning of Code Section 280G(b)(2)) to or for the benefit of the Executive,
whether paid or payable pursuant to this Agreement or otherwise.

(vi) “Present Value” of a Payment shall mean the economic present value of a Payment as
of the date of the change in control for purposes of Code Section 280G, as determined by the
Accounting Firm using the discount rate required by Code Section 280G(d)(4).

(vii) “Safe Harbor Amount” means (x) 3.0 times the Executive’s “base amount,” within
the meaning of Code Section 280G(b)(3), minus (y) $1.00.

6. Restrictive Covenants.

(a) Confidential Information. The Executive agrees that, during his or her employment
with the Corporation and at all times thereafter, he shall hold in a fiduciary capacity for the
benefit of the Corporation all secret or confidential information, knowledge or data relating to
the Corporation or any subsidiary or affiliate of the Corporation (the “Affiliated Entities”) and
their respective businesses, which shall have been obtained by the Executive during the Executive’s
employment by the Corporation or during his or her consultation with the Corporation after his or
her termination of employment, and which shall not be or become public knowledge (other than by
acts by the Executive or representatives of the Executive in violation of this Agreement). Except
in the good faith performance of his or her duties for the Corporation, the Executive shall not,
without the prior written consent of the Corporation or as may otherwise be required by law or
legal process, communicate or divulge any such information, knowledge or data to anyone other than
the Corporation and those designated by it.

(b) Noncompetition. The Executive agrees that while employed and during the one-year
period following his or her termination of employment with the Corporation under circumstances that
entitle him to the Severance Benefits, he will not engage in Competition (as defined below). The
Executive shall be deemed to be engaging in “Competition” if he, directly or indirectly, owns,
manages, operates, controls or participates in the ownership, management, operation or control of
or is connected as an officer, employee, partner, director, consultant or otherwise with, or has
any financial interest in, any business (whether through a corporation or other entity) engaged in
the commercial banking business or any other financial services business that is competitive with
any portion of the business conducted by the Corporation or the Affiliated Entities in Michigan,
Indiana, Ohio, Kentucky, Pennsylvania (which as of the Effective Date shall be limited to western
Pennsylvania, defined as the portion west of Harrisburg, Pennsylvania) and West Virginia and any
other state (or regional area in Pennsylvania) in which the Corporation or the Affiliated Entities
as of the date of termination (or at any time during the twelve (12)-month period prior to the date
of termination) has (or had) a material commercial banking or other financial services business (or
has taken reasonable steps to commence operating a material commercial banking or other financial
services business). Notwithstanding the aforesaid, the restrictions herein shall not apply based
solely on the Corporation having any ownership or other interest in an indirect automobile lending
facility. Ownership for personal investment purposes only of less than two percent (2%) of the
voting stock of any publicly held corporation shall not constitute a violation hereof.1

(c) Equitable Remedies. The Executive acknowledges that the protections and Severance
Benefits provided under this Agreement are in partial consideration for and contingent upon the
Executive’s agreement to comply with the covenants set forth in this Section 6, and the Corporation
would be irreparably injured by a violation of this Section 6. The Executive agrees that the
Corporation, in addition to any other remedies available to it for a breach or threatened breach,
shall be entitled to a preliminary injunction, temporary restraining order, or other equivalent
relief, restraining the Executive from any actual or threatened breach of this Section 6.

7. Withholding of Taxes. The Corporation may withhold from any amounts payable under this
Agreement all federal, state, city, or other taxes as required by law, provided that any stock
withheld will only be withheld at the minimum statutory rates.

8. Release of Corporation by the Executive. As a condition of receiving the payments and
benefits set forth in this Agreement, the Executive will be required to execute and not revoke
(i.e., the applicable revocation period shall have expired) a Release in the form attached hereto
as Exhibit A no later than the 45th business day following the date of termination of the
Executive’s employment (or, in the event of an Anticipatory Termination, not later than the 45th
business day following the date of the related Change of Control). In the event that the Executive
fails or refuses to execute a Release when requested by the Corporation under the terms of this
Agreement, then the Executive will not be entitled to receive Severance Benefits under this
Agreement, and the Corporation will have no obligation to pay Severance Benefits to the Executive
under this Agreement in the event of a Change of Control of the Corporation.

9. Acknowledgement. The Corporation hereby acknowledges that it will be difficult and may be
impossible for the Executive to find reasonably comparable employment, or to measure the amount of
damages which the Executive may suffer as a result of termination of employment hereunder.
Accordingly, the payment of the Severance Benefits by the Corporation to the Executive in
accordance with the terms of this Agreement is hereby acknowledged by the Corporation to be
reasonable and will be liquidated damages, and the Executive will not be required to mitigate the
amount of any payment provided for in this Agreement by seeking other employment or otherwise, nor
will any profits, income, earnings, or other benefits from any source whatsoever create any
mitigation, offset, reduction, or any other obligation on the part of the Executive hereunder or
otherwise, except for a reduction in health insurance coverage as provided in subsection 4(c)(1).
The Corporation shall not be entitled to set off or counterclaim against amounts payable hereunder
with respect to any claim, debt, or obligation of the Executive.

10. Enforcement Costs; Interest. The Corporation is aware that, upon the occurrence of a
Change of Control, the Board or a stockholder of the Corporation may then cause or attempt to cause
the Corporation to refuse to comply with its obligations under this Agreement, or may cause or
attempt to cause the Corporation to institute, or may institute, litigation, arbitration, or other
legal action seeking to have this Agreement declared unenforceable, or may take, or attempt to
take, other action to deny the Executive the benefits intended under this Agreement. In these
circumstances, the purpose of this Agreement could be frustrated. It is the intent of the
Corporation that the Executive not be required to incur the expenses associated with the
enforcement of the Executive’s rights under this Agreement by litigation, arbitration, or other
legal action nor be bound to negotiate any settlement of the Executive’s rights hereunder under
threat of incurring such expenses because the cost and expense thereof would substantially detract
from the benefits intended to be extended to the Executive under this Agreement. Accordingly, if
following a Change of Control it should appear to the Executive that the Corporation has failed to
comply with any of its obligations under this Agreement, including the calculations under Section
5, or in the event that the Corporation or any other person takes any action to declare this
Agreement void or unenforceable, or institute any litigation or other legal action designed to
deny, diminish, or to recover from the Executive, the benefits intended to be provided to the
Executive hereunder, the Corporation irrevocably authorizes the Executive from time to time to
retain counsel (legal and accounting) of the Executive’s choice at the expense of the Corporation
as provided in this Section 10 to represent the Executive in connection with the calculations under
Section 5, or the initiation or defense of any litigation or other legal action, whether by or
against the Corporation or any director, officer, stockholder, or other person affiliated with the
Corporation. Notwithstanding any existing or prior attorney-client relationship between the
Corporation and such counsel, the Corporation irrevocably consents to the Executive entering into
an attorney-client relationship with such counsel, and in that connection the Corporation and the
Executive agree that a confidential relationship shall exist between the Executive and such
counsel. The reasonable fees and expenses of counsel selected from time to time by the Executive
as provided in this Section shall be paid or reimbursed to the Executive by the Corporation on a
regular, periodic basis upon presentation by the Executive of a statement or statements prepared by
such counsel in accordance with its customary practices. In any action involving this Agreement,
the Executive shall be entitled to prejudgment interest on any amounts found to be due him from the
date such amounts would have been payable to the Executive pursuant to this Agreement at an annual
rate of interest equal to the prime commercial rate in effect at The Huntington National Bank or
its successor from time to time during the prejudgment period plus 4%.

11. Indemnification. From and after the earliest to occur of a Change of Control or
termination of employment, the Corporation shall (a) for a period of five years after such
occurrence, provide the Executive (including the Executive’s heirs, executors, and administrators)
with coverage under a standard directors’ and officers’ liability insurance policy at the
Corporation’s expense, and (b) indemnify and hold harmless the Executive, to the fullest extent
permitted or authorized by the law of the State of Maryland as it may from time to time be amended,
if the Executive is (whether before or after the Change of Control) made or threatened to be made a
party to any threatened, pending, or completed action, suit, or proceeding, whether civil,
criminal, administrative, or investigative, by reason of the fact that the Executive is or was a
director, officer, or employee of the Corporation or any Subsidiary, or is or was serving at the
request of the Corporation or any Subsidiary as a director, trustee, officer, or employee of a
bank, corporation, partnership, joint venture, trust, or other enterprise. The indemnification
provided by this Section 11 shall not be deemed exclusive of any other rights to which the
Executive may be entitled under the charter or bylaws of the Corporation or of any Subsidiary, or
any agreement, vote of shareholders or disinterested directors, or otherwise, both as to action in
the Executive’s official capacity and as to action in another capacity while holding such office,
and shall continue as to the Executive after the Executive has ceased to be a director, trustee,
officer, or employee and shall inure to the benefit of the heirs, executors, and administrators of
the Executive.

12. Arbitration. The initial method for resolving any dispute arising out of this Agreement
shall be nonbinding arbitration in accordance with this Section. Except as provided otherwise in
this Section 12, arbitration pursuant to this Section 12 shall be governed by the Commercial
Arbitration Rules of the American Arbitration Association. A party wishing to obtain arbitration
of an issue shall deliver written notice to the other party, including a description of the issue
to be arbitrated. Within 15 days after either party demands arbitration, the Corporation and the
Executive shall each appoint an arbitrator. Within 15 additional days, these two arbitrators shall
appoint the third arbitrator by mutual agreement; if they fail to agree within this 15-day period,
then the third arbitrator shall be selected promptly pursuant to the rules of the American
Arbitration Association for Commercial Arbitration. The arbitration panel shall hold a hearing in
Columbus, Ohio, within 90 days after the appointment of the third arbitrator. The fees and
expenses of the arbitrator, and any American Arbitration Association fees, shall be paid by the
Corporation. Both the Corporation and the Executive may be represented by counsel (legal and
accounting) and may present testimony and other evidence at the hearing. Within 90 days after
commencement of the hearing, the arbitration panel will issue a written decision; the majority vote
of two of the three arbitrators shall control. The majority decision of the arbitrators shall not
be binding on the parties, and the parties may pursue other available legal remedies if the parties
are not satisfied with the majority decision of the arbitrator. The Executive shall be entitled to
seek specific performances of the Executive’s rights under this Agreement during the pendency of
any dispute or controversy arising under or in connection with this Agreement.

13. Employment Rights. This Agreement sets forth the Severance Benefits payable to the
Executive in the event that the Executive’s employment with the Corporation is terminated under
certain conditions specified in Section 3. This Agreement is not an employment contract nor shall
it confer upon the Executive any right to continue in the employ of the Corporation or its
Subsidiaries and shall not in any way affect the right of the Corporation or its Subsidiaries to
dismiss or otherwise terminate the Executive’s employment at any time with or without cause.

14. Arrangements Not Exclusive. The specific benefit arrangements referred to in this
Agreement are not intended to exclude the Executive from participation in or from other benefits
available to executive personnel generally or to preclude the Executive’s right to other
compensation or benefits as may be authorized by the Board at any time. The provisions of this
Agreement and any payments provided for hereunder shall not reduce any amounts otherwise payable,
or in any way diminish the Executive’s existing rights, or rights which would accrue solely as the
result of the passage of time under any compensation plan, benefit plan, incentive plan, stock
option plan, employment agreement, or other contract, plan, or arrangement except as may be
specified in such contract, plan, or arrangement. Notwithstanding anything to the contrary in this
Section 14, the Severance Benefits provided in Section 4 are in lieu of any benefits to which the
Executive would be entitled following the termination of his or her employment pursuant to the
Corporation’s Transition Pay Plan and, in the event of an Anticipatory Termination, the amounts
payable and benefits provided under this Agreement with respect to a specific type of payment or
benefit (i.e., base salary severance) shall be reduced by any amount paid or benefit provided to
the Executive in respect of that type of payment or benefit under the Corporation’s Transition Pay
Plan in order to avoid duplication of such payments or benefits.

15. Termination. Except for termination of employment described in Section 3, this Agreement
shall terminate if the employment of the Executive with the Corporation shall terminate prior to a
Change of Control. For purposes of this Agreement, the Executive’s employment will be considered
terminated if the Executive is informed prior to a Change of Control that the Executive’s
employment is terminated under the terms of the Corporation’s Transition Pay Plan, and such
termination was not in contemplation of a Change of Control. In these circumstances, this
Agreement shall terminate on the Executive’s last day of active employment, and the Executive will
not be eligible for payments or benefits under this Agreement while receiving or while eligible to
receive pay or benefits under the Transition Pay Plan, or at any time thereafter.

16. Successors; Binding Agreements. This Agreement shall inure to the benefit of and be
enforceable by the Executive’s personal and legal representatives, executors, administrators,
successors, heirs, distributees, devisees, and legatees. The Executive’s rights and benefits under
this Agreement may not be assigned, except that if the Executive dies while any amount would still
be payable to the Executive hereunder if the Executive had continued to live, all such amounts,
unless otherwise provided herein, shall be paid in accordance with the terms of this Agreement, to
the beneficiaries designated by the Executive to receive benefits under this Agreement in a writing
on file with the Corporation at the time of the Executive’s death or, if there is no such
beneficiary, to the Executive’s estate. The Corporation will require any successor (whether direct
or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all of the
business and/or assets of the Corporation (or of any division or Subsidiary thereof employing the
Executive) to expressly assume and agree to perform this Agreement in the same manner and to the
same extent that the Corporation would be required to perform it if no such succession had taken
place. Failure of the Corporation to obtain such assumption and agreement prior to the
effectiveness of any such succession shall be a breach of this Agreement and shall entitle the
Executive to compensation from the Corporation in the same amount and on the same terms to which
the Executive would be entitled hereunder if the Executive terminated employment for Good Reason
following a Change of Control.

17. No Vested Interest. Neither the Executive nor the Executive’s beneficiaries shall have
any right, title, or interest in any benefit under this Agreement prior to the occurrence of the
right to the payment of such benefit.

18. Notice. For the purpose of this Agreement, notices and all other communications provided
for in this Agreement shall be in writing and shall be deemed to have been duly given when
delivered personally or mailed by U.S. registered mail, return receipt requested, postage prepaid,
addressed to the such addresses as each party may designate from time to time to the other party in
writing in the manner provided herein. Unless designated otherwise notices to the Corporation
should be sent to the Corporation at:

Huntington Bancshares Incorporated

41 South High Street

Columbus, Ohio 43215

Attention: General Counsel

Until designated otherwise, notices shall be sent to the employee at the address indicated on
the Beneficiary Designation and Notice form attached hereto as Exhibit B. If the parties by mutual
agreement supply each other with telecopier numbers for the purposes of providing notice by
facsimile, such notice shall also be proper notice under this Agreement. Notice sent by certified
or registered mail shall be effective two days after deposit by delivery to the U.S. Post Office.

19. Savings Clause. If any payments otherwise payable to the Executive under this Agreement
are prohibited or limited by any statute or regulation in effect at the time the payments would
otherwise be payable, including, without limitation, any regulation issued by the Federal Deposit
Insurance Company (the “FDIC”) that limits executive change of control payments that can be made by
an FDIC insured institution or its holding company if the institution is financially troubled (any
such limiting statute or regulation a “Limiting Rule”):

(a) the Corporation will use its best efforts to obtain the consent of the appropriate
governmental agency (whether the FDIC or any other agency) to the payment by the Corporation to the
Executive of the maximum amount that is permitted (up to the amounts that would be due to the
Executive absent the Limiting Rule); and

(b) the Executive will be entitled to elect to have apply, and therefore to receive benefits
directly under, either (i) this Agreement (as limited by the Limiting Rule) or (ii) any generally
applicable Corporation severance, separation pay, and/or salary continuation plan that may be in
effect at the time of the Executive’s termination.

Following any such election, the Executive will be entitled to receive benefits under this
Agreement or plan elected only if and to the extent the agreement or plan is applicable and subject
to its specific terms.

20. Amendment; Waiver. Prior to a Change of Control, the Corporation may amend, without the
approval of the Executive, any provision of this Agreement to the extent necessary to comply with
Section 409A of the Code so as to avoid any penalty or excise tax from being levied on the
Executive; provided, however, that the Corporation may not decrease the amount of
any benefit the Executive is entitled to receive under this Agreement without the Executive’s
consent. Regarding any other amendment, the Corporation may not amend or modify this Agreement,
and no provision may be waived, unless such amendment, modification, or waiver is agreed to in
writing and signed by the Executive and the Corporation.

21. Validity. The invalidity or unenforceability of any provision of this Agreement shall not
affect the validity or enforceability of any other provision of this Agreement, which shall remain
in full force and effect.

22. Counterparts. This Agreement may be executed in several counterparts, each of which shall
be deemed to be an original but all of which together shall constitute one and the same instrument.

23. Governing Law. Except as otherwise provided herein, this Agreement shall be governed by
the laws of the State of Maryland, without giving effect to any conflict of law provisions.

24. Section 409A of the Code.

(a) General. It is intended that this Agreement shall comply with the provisions of
Section 409A of the Code and the Department of the Treasury Regulations relating thereto, or an
exemption to Section 409A of the Code, and payments, rights and benefits may only be made,
satisfied or provided under this Agreement upon an event and in a manner permitted by Section 409A
of the Code, to the extent applicable, so as not to subject the Executive to the payment of taxes
and interest under Section 409A of the Code. In furtherance of this intent, this Agreement shall
be interpreted, operated and administered in a manner consistent with these intentions. Any
payments that qualify for the “short-term deferral” exception or another exception under Section
409A of the Code shall be paid under the applicable exception. For purposes of the limitations on
nonqualified deferred compensation under Section 409A of the Code, each payment of compensation
under this Agreement shall be treated as a separate payment of compensation for purposes of
applying the Section 409A of the Code deferral election rules and the exclusion under Section 409A
of the Code for certain short-term deferral amounts. All payments to be made upon a termination of
employment under this Agreement may only be made upon a “separation from service” under Section
409A of the Code. In no event may the Executive, directly or indirectly, designate the calendar
year of any payment under this Agreement.

(b) In-Kind Benefits and Reimbursements. Notwithstanding anything to the contrary in
this Agreement, all reimbursements and in-kind benefits that constitute nonqualified deferred
compensation under Section 409A provided under this Agreement shall be made or provided in
accordance with the requirements of Section 409A of the Code, including, where applicable, the
requirement that (i) any reimbursement is for expenses incurred during the Executive’s lifetime (or
during a shorter period of time specified in this Agreement); (ii) the amount of expenses eligible
for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; (iii)
the reimbursement of an eligible expense will be made no later than the last day of the calendar
year following the year in which the expense is incurred; and (iv) the right to reimbursement or in
kind benefits is not subject to liquidation or exchange for another benefit. To the extent
necessary to ensure the provision of non-taxable medical benefits under Section 105(h) of the Code
or any similar law, the post-termination medical benefits provided to the Executive shall be
provided in a manner that ensures that such benefits are provided on a basis (including with
respect to tax treatment) that is no less favorable (including with respect to tax treatment) than
the basis on which such benefits are provided (including the tax treatment) to (A) similarly
situated executives of the Corporation who have not terminated employment or (B) if more favorable
to the Executive, the Executive as of immediately prior to the Change of Control.

(c) Delay of Payments. Notwithstanding any other provision of this Agreement to the
contrary, if the Executive is considered a “specified employee” for purposes of Section 409A of the
Code (as determined in accordance with the methodology established by the Corporation as in effect
on the date of termination), (i) any payment that constitutes nonqualified deferred compensation
within the meaning of Section 409A of the Code that is payable on account of the Executive’s
separation from service and is otherwise due to the Executive under this Agreement during the
six-month period following his or her separation from service (as determined in accordance with
Section 409A of the Code) shall be accumulated and paid to the Executive in a lump sum on the first
business day of the seventh month following his or her separation from service (the “Delayed
Payment Date”) and (ii) in the event any equity compensation awards held by the Executive that vest
upon termination of the Executive’s employment constitute nonqualified deferred compensation within
the meaning of Section 409A of the Code, the delivery of shares of common stock (or cash) as
applicable in settlement of such awards shall be made on the earliest permissible payment date
(including the Delayed Payment Date) or event under Section 409A on which the shares (or cash)
would otherwise be delivered or paid. The Executive shall be entitled to interest on any delayed
cash payments from the date of termination to the Delayed Payment Date at a rate equal to the
applicable federal short-term rate in effect under Code Section 1274(d) for the month in which the
Executive’s separation from service occurs. If the Executive dies during the postponement period,
the amounts and entitlements delayed on account of Section 409A of the Code shall be paid to the
personal representative of his or her estate on the first to occur of the Delayed Payment Date or
30 days after the date of the Executive’s death.

25. Prior Executive Agreements. Effective as of the Effective Date, this Agreement supersedes
any and all prior executive agreements between the Corporation (or any predecessor of the
Corporation) and the Executive, including without limitation the executive agreement between the
Corporation and the Executive dated as of       , 20       (referred to herein as, the “Prior
Executive Agreement”), and no payments or benefits of any kind shall be made under, on account of,
or by reference to the Prior Executive Agreement.

In witness whereof, the parties have signed this Agreement as of [      ], 2012.

CORPORATION:

HUNTINGTON BANCSHARES INCORPORATED

EXECUTIVE:

[NAME]

Exhibit A

RELEASE AGREEMENT

This Release Agreement (this “Release Agreement”) is entered into by and between [EXECUTIVE]
(the “Executive”) and Huntington Bancshares Incorporated, a Maryland Corporation (the
“Corporation”), effective as of the Effective Date (as defined in Section 5 of this Release
Agreement). All capitalized terms used herein without definition shall have the meanings ascribed
to such terms in the Executive Agreement between the Executive and the Corporation, dated as of
     , 2012 (the “Executive Agreement”).

WHEREAS, under the Executive Agreement, the Executive is entitled to certain Severance Benefits
upon certain terminations of employment in connection with a Change of Control of the Corporation
on the condition that, within forty-five (45) days of his date of termination, the Executive
executes and does not revoke a general release of claims for the benefit of the Corporation and its
affiliates;

WHEREAS, the Executive has thoroughly reviewed this Release Agreement, has entered into it
voluntarily, and has consulted with legal counsel of his choice before signing this Release
Agreement.

NOW THEREFORE, in consideration of the foregoing, and of the promises and mutual covenants herein
contained, the Corporation and the Executive agree as follows:

1. GENERAL RELEASE OF CLAIMS. In exchange for the Severance Benefits as set forth on
the attached Schedule I, the adequacy and sufficiency of which the Executive hereby expressly
acknowledges, and all other consideration related to same, the Executive does hereby RELEASE,
WAIVE, REMISE, AND FOREVER DISCHARGE the Corporation and all of the Corporation’s past, present,
and future assigns, successors, affiliates, parent and subsidiary organizations, divisions, and
corporations, officers, directors, shareholders, employees, and agents of the same, as well as
their heirs, executors, administrators, successors, assigns, and other personal representatives, in
their corporate capacities (hereinafter referred to collectively as the “Released Parties”) from
any and all claims, demands, administrative charges, complaints, legal rights, compensation,
obligation, actions, interests, debts, liabilities, damages, costs, attorneys’ fees and expenses,
or causes of action of whatever type or nature, whether legal, equitable, or administrative,
whether known or unknown to him, which he may now have against the Released Parties, either
individually, jointly, or severally, based upon acts or omissions which have occurred from the
beginning of time to the Effective Date of this Agreement relating or arising out of, either
directly or indirectly, the Executive’s employment with, compensation by, and separation from the
Corporation, including, but not limited to, claims (a) for breach of contract, wrongful termination
of employment, whether in contract or tort, intentional, reckless, or negligent infliction of
emotional distress, and (b) under the Civil Rights Act of 1964, as amended, the Ohio Civil Rights
Act, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the
Americans with Disabilities Act, the Family and Medical Leave Act, the Employee Retirement Income
Security Act, the Comprehensive Omnibus Budget Reconciliation Act, and any applicable state or
local laws of similar intent (collectively, the “Released Claims”). Notwithstanding the foregoing,
the Released Claims do not include, and this Release Agreement does not release, any (i) rights to
Severance Benefits under the Executive Agreement, rights with respect to the enforcement of the
Corporation’s obligations in respect of the Severance Benefits under Sections 9, 10, 12 and 16 of
the Executive Agreement and rights to legal and accounting fees as expressly provided under Section
5(f) of the Executive Agreement in the event of a dispute after the Effective Date with the
Internal Revenue Service, (ii) rights to indemnification the Executive may have under applicable
law, the by-laws or certificate of incorporation of the Corporation, the Executive Agreement or any
other indemnification arrangement or director and officer liability policy, as a result of having
served as an officer, employee or director of the Corporation or any of its affiliates; (iii)
vested rights the Executive may have under the Corporation’s welfare and retirement plans and
payment in respect of accrued but unused vacation days through the date of termination; (iv) any
claims that the Executive may file for workers’ compensation benefits; and (v) any claims that
arise after the Effective Date of this Agreement or that the Executive may not by law release
through a settlement agreement such as this.

2. COVENANT NOT TO SUE. The Executive agrees not to file or initiate a lawsuit in any
court or initiate an arbitration proceeding asserting any of the Released Claims against any of the
Released Parties. The Executive further agrees that he will not permit himself to be a member of
any class in any court or in any arbitration proceeding seeking relief against the Released Parties
based on any of the Released Claims, and that even if a court or arbitrator rules that he may not
waive a claim released by this Release Agreement, he will not accept any money damages or other
relief in connection with any other action or proceeding asserting any of the Released Claims
against any of the Released Parties.

3. NO PENDING ACTIONS. The Executive represents that as of the date he signs this
Release Agreement, the Executive has not filed or initiated, or caused to be filed or initiated,
any complaint, claim, action or lawsuit of any kind against any of the Released Parties in any
federal, state or local court or agency.

4. WAIVER OF DAMAGES. Nothing in this Release Agreement is intended to or shall
interfere with the Executive’s right to participate in a proceeding with any appropriate federal,
state or local government agency enforcing federal, state or local discrimination laws and/or
cooperating with said agency in its investigation. The Executive shall not, however, be entitled
to receive any relief, recovery or monies in connection with any complaint or charge brought
against any of the Released Parties with respect to any Released Claims, without regard as to who
brought any such complaint or charge.

5. TIME TO CONSIDER AND REVOKE; ADVICE OF COUNSEL. The Executive acknowledges that he
has been afforded at least twenty-one (21) days to consider whether to sign this Release Agreement.
If the Executive elects not to take the full twenty-one (21) days to consider this Release
Agreement, the Executive acknowledges having done so voluntarily and with the understanding that
the Executive is waiving a statutory right to do so. If the Executive chooses to execute this
Release Agreement, the Executive has the right to revoke the acceptance at any time within seven
(7) days of signing (the “Revocation Period”) by delivering a written revocation to Huntington
Bancshares Incorporated, 41 South High Street

Columbus, Ohio 43215, Attention: General Counsel. Any such revocation shall state, “I
hereby revoke my Release Agreement” and must be signed by the Executive and received by the
Corporation before the end of the Revocation Period. So long as the Executive does not revoke this
Release Agreement, it shall become effective on the day following the last day of the Revocation
Period (the “Effective Date”). If the Executive decides to revoke this Release Agreement, the
revocation shall make this Release Agreement null and void and shall be deemed effective on the
date received by the Corporation. The Corporation hereby advises the Executive to consult with an
attorney before executing this Release Agreement.

6. SEVERIBILITY. If for any reason any one or more of the provisions of this Release
Agreement shall be held or deemed to be inoperative, unenforceable or invalid by a court of
competent jurisdiction, such circumstances shall not have the effect of rendering such provision
invalid in any other case or rendering any other provisions of this Release Agreement inoperative,
unenforceable or invalid. In any such event, such provision shall be read by such court to be as
broad and restrictive as possible without being found to be inoperative, unenforceable or invalid.

7. GOVERNING LAW. This Release Agreement shall be governed by the laws of the State
of Maryland, without giving effect to any conflict of law provisions.

8. COUNTERPARTS. This Release Agreement may be executed in counterparts and each
counterpart will be deemed an original.

9. SECTION HEADINGS. Section headings contained in this Release Agreement are for
convenience of reference only and shall not affect the meaning of any provision herein.

[Signature page to follow]

	1	 	Note to Draft: Intended to provide a 280G
mitigation strategy if Executive so desires.

1

PLEASE READ AND CONSIDER THIS RELEASE AGREEMENT CAREFULLY BEFORE EXECUTING. THIS RELEASE
AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. IN EXECUTING THIS RELEASE AGREEMENT,
THE EXECUTIVE EXPRESSLY REPRESENTS THAT HE IS DOING SO VOLUNTARILY AND OF HIS OWN FREE WILL AND
THAT HE IS OF SOUND MIND AT THE TIME OF SAID EXECUTION.

IN WITNESS WHEREOF, each of the Executive and the Corporation by its duly authorized agent has
hereunder executed this Release Agreement as of the date set forth below.

[EXECUTIVE]

Date:

HUNTINGTON BANCSHARES INCORPORATED

Name:

Title:

Date:

Exhibit B

Beneficiary Designation and Notice Form

Beneficiary Designation

In the event of my death, I direct that any amounts due me under the Agreement to which this
Beneficiary Designation is attached shall be distributed to the person designated below. If no
beneficiary shall be living to receive such assets they shall be paid to the administrator or
executor of my estate.

Notice

Until notified otherwise, pursuant to Section 18 of the Agreement, notices should be sent to
me at the following address:

Street Address

City, State and Zip Code

Date [NAME]

Beneficiary

Relationship to Executive

2

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