Company: FRME
Filing Date: 2025-10-17
Form Type: S-4/A
Source: 0001193125-25-242318
Chunk: 116

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-17
Form: S-4/A
Chunk 116
---
 Agreement, First Savings and the Subsidiaries shall be deemed to have granted to the Continuing Company an irrevocable
power of attorney to execute and deliver all such deeds, assignments or assurances in law and to do all acts necessary or proper to vest, perfect or confirm title to and possession of such rights, properties or assets in the Continuing Company and
otherwise to carry out the purposes of this Agreement, and the officers and directors of the Continuing Company are authorized in the name of First Savings or the Subsidiaries to take any and all such action.

SECTION 3

CONSIDERATION TO BE DISTRIBUTED

3.1

(a) . Upon and by reason of the Merger becoming effective, the holders of record, at the
Effective Time, of First Savings common stock, $0.01 par value per share (“First Savings Common Stock”), shall be entitled to receive, in exchange for each share of First Savings Common Stock held, a 0.85 (the“Exchange Ratio”)share of First Merchants’ common stock(“First Merchants Common Stock”) (the “Merger Consideration”). The Exchange Ratio shall be subject to
adjustment as set forth in Section 3.3.

(b) . At the Effective Time, all of the
shares of First Savings Common Stock that, immediately prior to the Effective Time, are issued and outstanding shall, by virtue of the Merger and without any action on the part of First Merchants, First Savings or the holders thereof, be converted
in accordance with subsection (a) above into the right to receive, subject to the other provisions hereof, the Merger Consideration.

3.2 . Fractional shares of First Merchants Common Stock shall not be issued in respect of
fractional interests arising from the Exchange Ratio. Each holder of First Savings Common Stock who would have otherwise been entitled to a fraction of a share of First Merchants Common Stock, upon surrender of all such shareholder’s First
Savings Common Stock, shall be paid in cash (without interest), an amount rounded to the nearest whole cent, determined by multiplying the First Merchants Average Price (as defined below) by the fractional share of First Merchants Common Stock to
which such holder of First Savings Common Stock would otherwise be entitled. No such holder of First Savings Common Stock shall be entitled to dividends, voting rights, or any other rights in respect of any fractional share. The term “First Merchants Average Price” shall mean the volume weighted average trading price of a