Company: FRME
Filing Date: 2025-10-17
Form Type: S-4/A
Source: 0001193125-25-242318
Chunk: 53

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-17
Form: S-4/A
Chunk 53
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 arrangements have been, or will be prior to the closing of the Merger, amended to eliminate any requirement that the covered participating executive experience an
actual or constructive termination of their employment in order to receive the payments and benefits. In exchange for the cash payments provided under the amended agreements the covered executives must agree to the enforcement of any applicable
noncompetition and non-solicitation covenants contained in those agreements by First Merchants following the Merger and that the covered executive will receive no further severance benefits under such amended
agreements regardless of the manner or circumstance of termination.

36

The table and footnotes below reflect the estimated amount of compensation that each of the named executive officers of First Savings is entitled to receive as a result of the Merger. In addition, the table presents the value of the acceleration of the vesting of equity awards as a result of the Merger. The amounts reported below are estimates based on assumptions that may or may not actually occur or be accurate on the relevant date, including assumptions described in this document. The tables do not include the value of any equity awards that may be granted to the named executive officers before the closing of the Merger because the amount of those awards, if any, has not yet been determined. As a result the actual amounts to be received by a named executive officer may differ from the amounts set forth below. Golden Parachute Compensation

| Name and Principal Position |     | Cash (1) ($) |           |     | Equity (2) ($) |         |     | Total ($) |           |
| Larry W. Myers              |     |              | 2,590,895 |     |                | 741,916 |     |           | 3,332,811 |
| Tony A. Schoen              |     |              | 1,066,220 |     |                | 496,084 |     |           | 1,562,304 |
| Jackie R. Journell          |     |              |   878,541 |     |                | 253,924 |     |           | 1,132,465 |

| (1) | The cash payment payable to each of the named executive officers of First Savings will be made in a single lump                                                                                                                                   
 sum in connection with the consummation of the Merger. The amounts payable to each named executive officer represent estimated amounts payable under the terms of their employment agreements with First Savings based on compensation data as of 
 December 31, 2024.