Company: FRME
Filing Date: 2025-10-17
Form Type: S-4/A
Source: 0001193125-25-242318
Chunk: 186

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-17
Form: S-4/A
Chunk 186
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8.12 . Prior to the Effective Time to be effective at the Effective Time, First Merchants shall
cause one (1) Person who is currently a member of the First Savings Board of Directors (who shall be chosen by First Merchants after consultation regarding its choice having been afforded to First Savings) to be appointed to the First Merchants
Board of Directors; provided, however, if the Effective Time is between the mailing of First Merchants’ proxy for its annual shareholder meeting and the annual shareholder meeting, the appointment shall be effective promptly following the
annual shareholder meeting. First Merchants shall cause such Person to be renominated for election to the First Merchants Board of Directors at every annual shareholder meeting up to and including the 2029 annual shareholder meeting. The appointment
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) shall for any reason cease to serve as a director or shall not stand for reelection as a director, the First Merchants Board of Directors shall 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.

8.13 . As of the Effective Time and upon the terms and conditions set forth herein: (a) First
Merchants will assume and discharge all of First Savings’s covenants, agreements and obligations, including the due and punctual payment of interest, under and relating to the indentures (the “Subordinated Note Indentures”)
pursuant to which First Savings issued 4.50% 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