Company: FRME
Filing Date: 2025-10-17
Form Type: S-4/A
Source: 0001193125-25-242318
Chunk: 97

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-17
Form: S-4/A
Chunk 97
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, guarantee, endorse, or otherwise as an accommodation become responsible or liable for the obligations of any other individual, corporation, or entity. |

The prior consent of First Merchants for the items listed above may be withheld, conditioned, or delayed in its sole discretion; provided, however, consent for items 5 through 13 above may not be unreasonably withheld, conditioned, or delayed. In addition, until the Merger is consummated or the Merger Agreement is terminated, First Merchants and First Savings shall carry on their business diligently and in the ordinary course of business and use their best efforts to preserve their business organizations and existing business relationships intact. This discussion of the restrictions imposed by the Merger Agreement is not intended to be exhaustive, but includes material restrictions imposed on the parties. Please refer to the Merger Agreement, attached as Annex A, for a complete listing of the restrictions. Fees and Expenses First Merchants and First Savings will pay their own fees, costs, and expenses incurred in connection with the Merger, including the fees of their respective investment bankers. Management After the Merger First Merchants will be the surviving corporation in the Merger and First Savings’ separate corporate existence will cease. Accordingly, the directors and officers of First Savings will no longer serve in such 70

capacities after the completion of the Merger. Similarly, First Merchants Bank will be the surviving banking subsidiary in the consolidation and merger with First Savings Bank (the “Bank
Merger”) and First Savings Bank’s separate corporate existence will cease.

The directors of First Merchants and First
Merchants Bank immediately prior to the Merger will continue to be the directors of First Merchants and First Merchants Bank following the Merger and the Bank Merger, respectively, until they resign or until their respective successors are duly
elected and qualified. However, the Merger Agreement obligates First Merchants to appoint one person who is currently a member of the First Savings Board of Directors (chosen by First Merchants after consultation with First Savings) to the First
Merchants Board of Directors. The Merger Agreement further provides that, upon the expiration of such person’s initial term (and, if reelected, upon the expiration of such person’s second term), First Merchants will cause such person to
be renominated for election to the First Merchants Board of Directors. The appointments and renominations will be consistent with all applicable corporate governance policies and guidelines of First Merchants. As of the date of this proxy statement