Company: FRME
Filing Date: 2025-10-17
Form Type: S-4/A
Source: 0001193125-25-242318
Chunk: 180

Company: FIRST MERCHANTS CORP
Filing Date: 2025-10-17
Form: S-4/A
Chunk 180
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 First Savings or any Subsidiary for purposes of an employee benefit plan or arrangement) will be treated as service with First Merchants; provided, however, that service with First
Savings or the Subsidiaries shall not be treated as service with First Merchants for purposes of benefit accrual, except with respect to severance benefits. At its discretion, First Merchants shall either (a) cause the First Savings
Retirement Plan (the “401(k) Plan”) to be merged with and into the First Merchants’ Retirement Income and Savings Plan, with employees of First Savings and the Subsidiaries eligible to participate in such First Merchants
plan subject to and pursuant to the terms thereof; (b) assume sponsorship of the 401(k) Plan effective as of the Effective Time; or (c) direct First Savings to take such reasonable steps to terminate the 401(k) Plan prior to the Effective
Time (which First Savings hereby agrees to take), in which case, First Merchants agrees that any outstanding participant loans under the 401(k) Plan may be rolled over to the First Merchants’ Retirement Income and Savings Plan so that
participants can continue to repay outstanding loans via payroll deduction, if permitted under the terms of the respective plans. Prior to the Effective Time, First Savings and its Subsidiaries will cause the First Savings Employee Stock Ownership
Plan to terminate immediately prior to the Effective Time. First Merchants shall assume, honor and discharge the obligations under the First Savings Bank, F.S.B. Supplemental Life Insurance Plan. First Merchants shall honor and discharge the
obligations under the First Savings employment agreements and change in control agreements that are disclosed in Section 5.14(k) of the First Savings Disclosure Letter, as amended in accordance with Section 7.14.

(b) . With respect to First Merchants’ health and
welfare plans under which employees of First Savings or the Subsidiaries and their eligible dependents become participants, First Merchants agrees to (i) waive all restrictions and limitations for
pre-existing conditions, (ii) honor any deductible, co-payments and out-of-pocket
maximums incurred by First Savings’s or the Subsidiaries’ employees and their eligible dependents under the health plans in which they participated immediately prior to the Effective Time during the portion of the calendar year prior to
the Effective Time in satisfying any deductibles, co-payments or out-of-pocket maximums under health plans of First Merchants in
which