Company: FRME
Filing Date: 2025-10-10
Form Type: S-4
Source: 0001193125-25-237211
Chunk: 107

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-10
Form: S-4
Chunk 107
---
 obtain the coverage
described above, First Merchants has agreed to use its reasonable best efforts to obtain as much comparable insurance as is available.

After the Merger, First Savings’ and First Savings Bank’s officers and employees who become officers, directors, or employees of
First Merchants or its subsidiaries shall have the same directors and officers insurance coverage and indemnification protection that First Merchants provides to other officers, directors, and employees of First Merchants or its subsidiaries.

Employee Benefit Plans

The Merger Agreement provides that the current employees of First Savings and the Subsidiaries who continue as employees of First Merchants or
its subsidiaries following the Merger will be entitled to participate in the employee benefit plans of First Merchants. With respect to each employee benefit plan or benefit arrangement maintained by First Merchants in which employees of First
Savings or the Subsidiaries subsequently participate, for purposes of determining eligibility, vesting, vacation, and severance entitlement, First Merchants

71

will ensure that service with First Savings or the Subsidiaries will be treated as service with First Merchants; provided, however, that service with First Savings or First Savings Bank shall not
be treated as service with First Merchants for purposes of benefit accrual, except with respect to severance benefits.

Voting Agreement

Each member of the Board of Directors of First Savings and certain executive officer of First Savings entered into a voting agreement with
First Merchants as of the date of the Merger Agreement whereby the parties have agreed, subject to their fiduciary duties to entertain a superior third-party acquisition proposal under the Merger Agreement, to vote, or cause to be voted, all of
their shares of First Savings common stock and shares owned by certain affiliates over which they have voting control in favor of the Merger Proposal. As of the record date, the number of shares of common stock subject to such voting agreement is
[●] shares of First Savings common stock, representing [●]% of the outstanding shares. The voting agreement is attached to this document as and is incorporated in this document by reference.

72

MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES

The following is a general discussion of the material federal income tax consequences of the Merger to U.S. Holders (as hereinafter defined) of First Savings common stock that exchange their shares of First Savings common stock for shares of First Merchants common stock. The following discussion is based on current provisions of the Internal Revenue Code of