Company: FRME
Filing Date: 2025-10-10
Form Type: S-4
Source: 0001193125-25-237211
Chunk: 106

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-10
Form: S-4
Chunk 106
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 with First Savings) to the First
Merchants Board of Directors. The Merger Agreement further provides that, upon the expiration of such person’s initial term (and, if reelected, upon the expiration of such person’s second term), First Merchants will cause such person to
be renominated for election 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. As of the date of this proxy statement
and prospectus, First Merchants expects to appoint Larry W. Myers to the First Merchants Board of Directors.

The officers of First
Merchants and First Merchants Bank immediately prior to the Merger will continue to be the officers of First Merchants and First Merchants Bank following the Merger and the Bank Merger, respectively, until they resign or until their successors are
duly elected and qualified.

Indemnification and Insurance of First Savings Directors and Officers

First Merchants has agreed to indemnify and hold harmless each director and officer of First Savings and First Savings Bank for six years after
the effective time of the Merger in connection with any losses arising out of the fact that any such person is or was a director or officer of First Savings or First Savings Bank at or prior to the effective time of the Merger to the same extent as
would have been available under the Articles of Incorporation, Bylaws, or other indemnification agreement of First Savings and First Savings Bank.

In addition, First Merchants has agreed to maintain in effect, for a period of six years (the “Tail Coverage Period”), each of
First Savings’ and First Savings Bank’s directors’ and officers’ liability insurance policies (including fiduciary, errors and omissions, and cyber coverage) (or a comparable or better policy) to cover the present and former
officers and directors of First Savings and First Savings Bank (determined as of the Effective Time), with respect to claims against such directors and officers arising from facts or events which occurred before the Effective Time, which insurance
must contain at least the same coverage and amounts, and contain terms and conditions no less advantageous, as that coverage currently provided by First Savings. However, for each year of the Tail Coverage Period, First Merchants has no obligation
to pay an amount in premiums which is more than 2.0 times the current annual premiums paid by First Savings to maintain its current directors’ and officers’ insurance coverage. If First Merchants is unable to