Company: FRME
Filing Date: 2025-10-17
Form Type: S-4/A
Source: 0001193125-25-242318
Chunk: 173

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-17
Form: S-4/A
Chunk 173
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, for the avoidance of doubt, any acquisition or deemed
acquisition of control by any person(s) or group of persons listed on Schedule 5.3(f) of the First Savings Disclosure Letter or any of their affiliates who are subject to a Voting Agreement with First Merchants in connection with this Agreement
through open market purchases of First Savings Common Stock shall not be deemed a violation of this Section 7.5(a).

(b) Notwithstanding the foregoing, in the event that First Savings’s Board of Directors determines in good faith and
after consultation with outside counsel, that in light of an Acquisition Proposal, it is necessary to provide such information or engage in such negotiations or discussions in order to act in a manner consistent with such Board’s fiduciary
duties, First Savings’s Board of Directors may, in response to an Acquisition Proposal which did not result from a breach of Section 7.5(a), subject to its compliance with Section 7.5(c), (i) furnish information with respect to First
Savings or a Subsidiary to such person or entity making such Acquisition Proposal pursuant to a customary confidentiality agreement that is no less restrictive than the Confidentiality Agreement between First Savings and First Merchants and
(ii) participate in discussions or negotiations regarding such Acquisition Proposal. In the event that First Savings’s Board of Directors determines in good faith and after consultation with outside counsel, that the Acquisition Proposal
is a Superior Acquisition Proposal (as defined below) and that it is necessary to pursue such Superior Acquisition Proposal in order to act in a manner consistent with such Board’s fiduciary duties, First Savings may (A) withdraw, modify
or otherwise change in a manner adverse to First Merchants, the recommendation of First Savings’s Board of Directors to its shareholders with respect to this Agreement and the Merger, and/or (B) terminate this Agreement in order to
concurrently enter into an agreement with respect to such Superior Acquisition Proposal; , , that First Savings’s Board of Directors may not terminate this Agreement pursuant to this Section 7.5(b) unless and
until (x) five (5) business days have elapsed following the delivery to First Merchants of a written notice of such determination by First Savings’s Board of Directors and during such five
(5) business-day period, First Savings and the Subsidiaries otherwise cooperate with First Merchants with the intent of enabling the parties to engage in good faith negotiations so that the Merger and
other transactions contemplated hereby may be effected and (y