Huntington Executive Officer Retention Payment Program Terms (2008)
Contract Categories:
Human Resources
›
Retention Agreements
Summary
This agreement outlines Huntington's Retention Payment Program for certain executive officers. Under the program, named executives will receive specified retention payments in the first quarter of 2011 if they remain employed through December 31, 2010. If a change-in-control occurs before that date and the executive is still employed at the time, the payment becomes vested immediately. The agreement lists the payment amounts for each participating executive.
EX-10.43 2 l29571aexv10w43.htm EX-10.43 EX-10.43
Exhibit 10.43
Terms of Retention Payment Program
Approved January 15, 2008
Approved January 15, 2008
Retention Payment Terms
| • | The participating officer will receive payment of the retention amount specified for such participant in the first quarter of 2011, provided the participant remains employed with Huntington through December 31, 2010. | ||
| • | In the event a change-in-control, as defined in Huntington’s forms of Executive Agreement, occurs prior to December 31, 2010, and the participant remains employed at the time of the change-in-control, the retention payment will be vested. |
Schedule of Retention Payment Amounts for Executive Officers
| Executive | Retention Payment | |||
Daniel B. Benhase | $ | 400,000 | ||
Richard A. Cheap | $ | 200,000 | ||
Donald R. Kimble | $ | 400,000 | ||
Mary W. Navarro | $ | 400,000 | ||
Nicholas G. Stanutz | $ | 300,000 | ||
