Company: FRME
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001193125-25-268801
Chunk: 193

Company: FIRST MERCHANTS CORP
Filing Date: 2025-11-06
Form: 424B3
Chunk 193
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.50% Fixed-to-Floating Rate Subordinated Notes due 2032 (such transfer and assumption, the “Subordinated Notes Assumption”); and (b) First Merchants and First Savings shall execute and deliver, or cause to be delivered, one or more supplemental indentures, in a form satisfactory to the trustee thereof, to effectuate the Subordinated Notes
Assumption, whereby First Savings shall assign, and First Merchants shall assume, all of First Savings’s covenants, agreements and obligations under the Subordinated Note Indentures (the “Supplemental Indenture”), signed by
a duly authorized officer of each of First Savings and First Merchants, and any and all other documentation and consents, including opinions of counsel, required by the trustee to make such assumptions effective.

8.14 . Prior to the Effective Time, First Merchants shall take such steps as may be necessary or appropriate to cause
any acquisition of securities of First Merchants by the person who will join the First Merchants Board of Directors, and any other director, officer or employee of First Savings who will, following the Effective Time, be subject to Section 16
under the Exchange Act with respect to First Merchants,

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in connection with the consummation of the Merger to be exempt under Rule 16b-3 promulgated under the 1934 Act.

8.15 . Promptly following the Effective Time, FMB shall form a new Bank Advisory Board of FMB (the “Advisory Board”), which shall remain in existence for at least three years after the Effective Time. Promptly following the Effective Time, FMB shall invite directors of First Savings who were serving in such capacity immediately prior to the
Effective Time, other than the director of First Savings contemplated by Section 8.12 (the selection of such directors to be mutually agreed to by First Merchants and First Savings), to join the Advisory Board. Each member of the Advisory Board
shall be elected/appointed for a one-year term and shall be eligible for reelection/reappointment. Each member of the Advisory Board shall receive cash compensation of Two Thousand Five Hundred Dollars
($2,500) for each meeting attended. The appointment and renominations will be consistent with all applicable corporate governance policies and guidelines of First Merchants, including each member of the Advisory Board entering into an FMB Regional
Bank Director Agreement and each member’s compliance with FMB’s Regional Bank Directors Expected Roles and Responsibilities.

SECTION 9

CONDITIONS