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

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-10
Form: S-4
Chunk 25
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 Merchants expects to appoint Larry W. Myers 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. If, prior to the 2029 annual shareholder meeting, such person (or any successor director who is appointed pursuant to this sentence) for any reason ceases to serve as a director or does not      
 stand for reelection as a director, the First Merchants Board of Directors will promptly appoint or nominate, as applicable, a person, chosen by the First Merchants Board of Directors, who was a member of the First Savings Board of Directors         
 immediately prior to the Effective Time to fill the resulting vacancy.                                                                                                                                                                                    |

Termination of the Merger (page [● ]) Both First Merchants and First Savings can mutually agree to terminate the Merger Agreement before we complete the Merger. In addition, either First Savings or First Merchants acting alone can terminate the Merger Agreement under the circumstances described on page [●]. First Savings has agreed to pay First Merchants a termination fee of $10,000,000 if:

| • |     | First Savings’ Board of Directors terminates the Merger Agreement in the exercise of its fiduciary duties 
 after receipt of an unsolicited superior acquisition proposal from a third party;                         |

| • |     | First Merchants terminates the Merger Agreement because First Savings’ Board of Directors withdraws or                                                              
 modifies its recommendation to First Savings’ shareholders to vote for the Merger following receipt of a written proposal for an acquisition from a third party; or |

| • |     | First Merchants terminates the Merger Agreement because First Savings fails to give First Merchants written                                                                                                                                         
 notice that it intends to furnish information to or enter into discussions or negotiations with a third party relating to a proposed acquisition of First Savings, or if First Savings, within 60 days after giving such notice, does not terminate 
 such discussions or negotiations.                                                                                                                                                                                                                   |

12

Either party may terminate the Merger Agreement if the Merger has not been completed by June 30, 2026, provided the terminating party is not then in breach of any representation warranty or covenant that, if uncured, would result in the failure of certain Merger closing conditions to be satisfied and, provided, further, that if the sole impediment to closing by June 30, 2026 is the lack of any necessary regulatory approval, then such termination date will be extended to September 30, 2026.