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| [  ] | Confidential, for Use of the Commission Only [as permitted by Rule 14a-6(e)(2)] |
|----------------|---------------------------------------------------------------------------------|

| [  ] | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. |
|----------------|--------------------------------------------------------------------------|

|   | 3) | Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined): ___________________ |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| [  ] | Fee paid previously with preliminary materials. |
|----------------|-------------------------------------------------|

| [  ] | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. |
|----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| (1) | To elect five directors, four to hold office for terms of three years and one to hold office for a term of one year; in each case, the directors will hold office until their successors are duly elected and qualified. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | To vote on an advisory, non-binding resolution approving the compensation of the First Merchants Corporation executive officers. |
|-----|----------------------------------------------------------------------------------------------------------------------------------|

| (3) | To ratify the appointment of the firm of BKD, LLP as the independent auditor for 2011. |
|-----|----------------------------------------------------------------------------------------|

| (4) | To transact such other business as may properly come before the meeting. |
|-----|--------------------------------------------------------------------------|

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|   | (1) | To elect five directors, four to hold office for terms of three years and one to hold office for a term of one year; in each case, the directors will hold office until their successors are duly elected and qualified. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | To vote on an advisory, non-binding resolution approving the compensation of FMC’s executive officers. |
|--------|-----|--------------------------------------------------------------------------------------------------------------|

|   | (3) | To ratify the appointment of the firm of BKD, LLP as the independent auditor for 2011. |
|--------|-----|----------------------------------------------------------------------------------------|

----

| ·   | By Internet – Shareholders who received a notice regarding the availability of proxy materials may submit proxies over the Internet by following the instructions on the notice.  Shareholders who received a paper or electronic copy of a proxy card may submit proxies over the Internet by following the instructions on the proxy card. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | By Telephone – Shareholders who live in the United States or Canada may submit proxies by telephone by calling toll-free 1-800-690-6903 on a touch-tone telephone and following the instructions.  Shareholders who received a notice regarding the availability of proxy materials should have the notice in hand when calling, and shareholders who received a paper or electronic copy of a proxy card should have the proxy card in hand when calling. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | By Mail – Shareholders who received a paper or electronic copy of a proxy card may submit proxies by mail by completing, signing and dating the proxy card and mailing it in the postage-paid envelope we have provided or by returning it to First Merchants Corporation, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name and Addressof Beneficial Owner | Amount and Natureof Beneficial Ownership | Percentof Class |
|-------------------------------------|------------------------------------------|-----------------|
|                                |                                     |            |
| Dimensional Fund Advisors LP        | 1,825, 798(1)                            | 7.06%           |
| Palisades West, Building One        |                                     |            |
| 6300 Bee Cave Road                  |                                     |            |
| Austin, TX 78746                    |                                     |            |
|                                |                                     |            |
| BlackRock, Inc.                     | 1,640,345(2)                             | 6.34%           |
| 40 East 52nd Street                 |                                     |            |
| New York, NY 10022                  |                                     |            |

| (1)   | Based on a Schedule 13G filing with the SEC, Dimensional Fund Advisors LP, an investment advisor registered under Section 203 of the Investment Advisors Act of 1940, furnishes investment advice to |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (2)   | Based on a Schedule 13G filing with the SEC, BlackRock, Inc. is the parent holding company of five subsidiaries, BlackRock Japan Co. Ltd., BlackRock Institutional Trust Company, N.A., BlackRock Fund Advisors, BlackRock Advisors, LLC, and BlackRock Investment Management, LLC, that are the beneficial owners and possess voting and investment power over these shares of FMC common stock. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                             | Amount and Natureof Beneficial Ownership | Percentof Class |
|----------------------------------|------------------------------------------|-----------------|
| Beneficial Owner                 |
|                             |                                     |            |
| Thomas B. Clark                  | 21,712(1)                                | *               |
| Jerry R. Engle                   | 62,487(2)                                | *               |
| Roderick English                 | 13,514(3)                                | *               |
| Jo Ann M. Gora                   | 13,514(4)                                | *               |
| William L. Hoy                   | 20,906(5)                                | *               |
| Barry J. Hudson                  | 460,882(6)                               | 1.78%           |
| Gary Lehman                      | 11,100                                   | *               |
| Marvin G. Pember                 | 0                                        | *               |
| Michael C. Rechin                | 117,762(7)                               | *               |
| Charles E. Schalliol             | 30,150(8)                                | *               |
| Patrick A. Sherman               | 20,154(9)                                | *               |
| Terry L. Walker                  | 41,685(10)                               | *               |
| Jean L. Wojtowicz                | 16,426(11)                               | *               |
| Robert R. Connors                | 54,186(12)                               | *               |
| Mark K. Hardwick                 | 99,585(13)                               | *               |
| John J. Martin                   | 13,451(14)                               |            |
| Michael J. Stewart               | 43,817(15)                               |            |
| Directors and Executive          |                                     |            |
| Officers as a Group (20 persons) | 1,112,159(16)                            | 4.25%           |

----

|   | (2) | Includes 2,605 Restricted Shares, 37,424 shares held jointly with his spouse, Terri Engle, and 17,991 shares that he has the right to acquire by exercising Vested Options. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Includes 5,886 Restricted Shares and 7,628 shares that he has the right to acquire by exercising Vested Options. |
|--------|-----|------------------------------------------------------------------------------------------------------------------|

|   | (4) | Includes 5,886 Restricted Shares and 7,628 shares that she has the right to acquire by exercising Vested Options. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (5) | Includes 5,886 Restricted Shares, 917 shares that he holds as custodian for his daughter, and 4,157 shares that he has the right to acquire by exercising Vested Options. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | Includes 5,886 Restricted Shares, 327,756 shares owned by Mutual Security, Inc., 10,024 shares held jointly with his spouse, Elizabeth Hudson, 43,521 shares held by his spouse, 13,626 shares held by his spouse as custodian for his children and 12,301 shares that he has the right to acquire by exercising Vested Options. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Includes 39,075 Restricted Shares and 65,000 shares that he has the right to acquire by exercising Vested Options. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

| (8)   | Includes 11,322 Restricted Shares and 7,628 shares that he has the right to acquire by exercising Vested Options. |
|-----------------|-------------------------------------------------------------------------------------------------------------------|

| (9)   | Includes 4,704 Restricted Shares and 3,000 shares that he has the right to acquire by exercising Vested Options. |
|-----------------|------------------------------------------------------------------------------------------------------------------|

| (10)   | Includes 6,621 Restricted Shares, 29,199 shares held jointly with his spouse, Cheryl L. Walker, 551 shares held by his spouse and 5,314 shares that he has the right to acquire by exercising Vested Options. |
|-------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (11)   | Includes 7,641 Restricted Shares and 8,785 shares that she has the right to acquire by exercising Vested Options. |
|------------------|-------------------------------------------------------------------------------------------------------------------|

| (12)   | Includes 10,221 Restricted Shares, 3,568 shares held jointly with his spouse, Ann Connors, and 37,056 shares that he has the right to acquire by exercising Vested Options. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (13)   | Includes 26,950 Restricted Shares, 401 shares held by his spouse, Catherine Hardwick, and 56,658 shares that he has the right to acquire by exercising Vested Options. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (14)   | Includes 8,915 Restricted Shares and 2,000 shares that he has the right to acquire by exercising Vested Options. |
|------------------|------------------------------------------------------------------------------------------------------------------|

| (15)   | Includes 24,250 Restricted Shares, 1,150 shares held in a joint trust with his spouse, Barbara Stewart, and 14,000 shares that he has the right to acquire by exercising Vested Options. |
|------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (16)   | Includes 184,920 Restricted Shares and 297,429 shares that directors and executive officers have the right to acquire by exercising Vested Options. |
|------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Class II (Terms expire 2014):                   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Roderick Englishage 59Director since 2005  | Mr. English has served as the President and Chief Executive Officer of The James Monroe Group, LLC, since 2006.  The James Monroe Group provides to its clients business management and consulting services that include developing strategic business plans, top grading of management personnel, expanding the business core to achieve sustainable growth, and improving operational efficiencies and reducing waste.  Since 2010, Mr. English has also been employed by the Defense Finance and Accounting Services Office of the U. S. Department of Defense.  He is responsible for managing the Operations Review Office at DFAS, including leading audit teams in performing audit readiness reviews of human resources operational processes to ensure regulatory compliance, accuracy of processing, appropriate maintenance of records and files, and process efficiencies.  From 1994-2006, Mr. English was the Senior Vice President, Human Resources and Communications, for Remy International, Inc., a tier one automotive manufacturer that was spun off from General Motors in 1994.  In this position, he provided leadership and direction for all of Remy’s human resources initiatives, including in the areas of acquisitions, mergers and divestitures.  Prior to 1994, Mr. English held several management positions with the Delco Remy Division of General Motors, including plant manager of one of its manufacturing plants and manager of the Division’s labor relations. The specific experience, qualifications, attributes or skills that Mr. English brings to the Board include his strategic planning skills and his global experience as the head of human resources management at a major public company.  He is the only director whose principal area of expertise is human resources management.  In addition, studies show that companies and boards of directors benefit by having a diverse Board.  As an African-American, Mr. English contributes to this diversity.  Further, Mr. English resided and worked in Anderson, Indiana, a major FMC market, for most of his business career.  He held several civic leadership positions in Anderson and East Central Indiana during that period. |

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| Jo Ann M. Goraage 65Director since 2004  | Dr. Gora has served as the President of Ball State University, a 20,000-student public university based in Muncie, Indiana, since 2004.  Before assuming Ball State’s Presidency, she was the Chancellor of the University of Massachusetts, Boston from 2001-2004 and the Provost and Vice President for Academic Affairs of Old Dominion University from 1992-2001.  Dr. Gora led the development of Ball State’s “Education Redefined” strategic plan, under which immersive learning has become a cornerstone of students’ educational experience.  She has increased Ball State’s commitment to emerging media, developing nationally-ranked academic programs, technology innovation, and campus diversity.  Under her direction, Ball State is presently installing the largest closed geothermal energy system anywhere in the United States, which will result in substantially reduced heating and cooling costs and benefit the environment by replacing existing coal-fired boilers.  Dr. Gora serves as a board member and leader of various statewide and national organizations that support higher education – such as the American Council on Education and the Association of Governing Board’s Council of Presidents; and she is a director of organizations that promote economic development and action on public policy issues in Indiana – such as the Indiana Chamber of Commerce and the Central Indiana Corporate Partnership, which is comprised of chief executive officers of some of the largest for-profit companies and nonprofit organizations in Central Indiana. The specific experience, qualifications, attributes or skills that Dr. Gora brings to the Board include her demonstrated leadership skills as the President and chief executive officer of Ball State University, one of Indiana’s leading universities and East Central Indiana’s largest employer with more than 3,000 employees and an annual budget approaching $400 million.  The Company and the Board benefit from Dr. Gora’s extensive experience in strategic planning for complex organizations.  Dr. Gora is a community and civic leader in Muncie Indiana, the location of FMC’s principal office and one of its most important markets.  Further, the Board and FMC benefit because, as a woman and the only director leading a university, Dr. Gora contributes to the Board’s diversity.  |
|-----------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Gary J. Lehmanage 58New Director         | Mr. Lehman has served as the President and Chief Executive Officer of Fairfield Manufacturing Company Inc. since 2003 and Oerlikon Drive Systems since 2010.  Fairfield is headquartered in Lafayette, Indiana and is the largest independent gear manufacturer in the United States.  Oerlikon Drive Systems is one of the six business segments of Oerlikon AG, a Switzerland-based public company, and is a leading global supplier of gears and gearing solutions with operations in 12 countries.  Before joining Fairfield, Mr. Lehman was the founder and Managing Director of The Cannelton Group, which provided operations and financial assistance to private equity and closely held manufacturing firms.  He has also previously served as the President and CEO of Phillips Lighting Electronics NA and Advance Transformer, a wholly owned subsidiary of Phillips Electronics NV, and as Senior Vice President of Worldwide Operations and General Manager of the Body Systems Division of ITT Automotive.  Mr. Lehman was appointed to the Purdue University Board of Trustees by the Governor of Indiana in 2010, and he served on the Indiana Commission for Higher Education from 2008-2010. The specific experience, qualifications, attributes or skills that Mr. Lehman brings to the Board include his extensive and varied business and executive leadership skills and experience gained as the chief executive officer of successful companies, including both smaller companies and those with global operations.  He is a civic and community leader, and the only director, residing in Lafayette and Northwest Indiana, one of FMC’s principal markets.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

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| Jean L. Wojtowiczage 53Director since 2004  | Ms. Wojtowicz has been the President of Cambridge Capital Management Corp., a manager of non-traditional sources of capital for businesses which has provided more than $449 million to more than 1,175 Indiana businesses since she founded the company in 1983.  Cambridge currently manages the Indiana Statewide Certified Development Corporation, which provides fixed-asset financing to small businesses; the Indiana Community Business Credit Corporation, a consortium of financial institutions that pool money to provide working capital loans to businesses in a growth stage; and LYNX Capital Corporation, which provides debt and equity financing to minority-owned companies.  Cambridge is also a co-general partner in Cambridge Ventures L.P., a licensed small business investment company.  Ms. Wojtowicz is one of the seven Board members of the Indiana Department of Financial Institutions, the agency responsible for supervising financial services providers incorporated under the laws of the State of Indiana.  She is a director of the First Internet Bank of Indiana and chairs its Audit Committee.  Ms. Wojtowicz has authored many articles for the Indianapolis Business Journal, Hoosier Banker, and other publications. The specific experience, qualifications, attributes or skills that Ms. Wojtowicz brings to the Board include her broad knowledge and experience in finance and in the financial services industry.  She has had extensive and varied involvement with public companies, financial institutions and entrepreneurial endeavors.  Ms. Wojtowicz provides important service to the Company as Chairperson of the Board’s Audit Committee.  The Board has identified her as an “Audit Committee financial expert.”  As a woman, Ms. Wojtowicz also contributes to the Board’s diversity, another benefit to the Company.  She is a civic and community leader in the Indianapolis metropolitan area, which is an FMC “high growth” market. Ms. Wojtowicz is a director, chairs the Compensation and Benefits Committee, and serves on the Audit and Risk Management Committee of Vectren Corporation, an NYSE company.  She was a director of Windrose Medical Properties Trust, a public company, until it merged with Health Care REIT, Inc.  |
|--------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Class III (Term expires 2012):              |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
| Marvin G. PemberAge 57New Director               | Mr. Pember has served as the Executive Vice President and Chief Financial Officer of Clarian Health Partners, Inc., which recently became Indiana University Health, Inc., since 1999.  In partnership with the Indiana University School of Medicine, one of the nation’s leading medical schools, Indiana University Health is Indiana’s most comprehensive healthcare system, comprised of hospitals, physicians and allied services who are dedicated to providing preeminent care throughout Indiana and beyond.  As EVP and CFO of Indiana University Health, Mr. Pember is the administrative executive responsible for overseeing information services, financial services, budget and financial planning, managed care contracting, health plan development, revenue cycle management, strategic planning and corporate development. Prior joining Indiana University Health, Mr. Pember was Senior Vice President and General Manager of Cerner Corporation, Managing Director of Integris Health and Senior Vice President of Finance of Baptist Medical Center.  He is a certified public accountant. The specific experience, qualifications, attributes or skills that Mr. Pember brings to the Board include his knowledge and experience as chief financial officer of a large and complex healthcare system with nearly 22,000 full-time employees and annual gross patient revenues exceeding $7.25 billion, including his expertise in the areas of strategic planning, development, negotiations, financial management, and staff and team development.  Mr. Pember resides in the Indianapolis metropolitan area, an FMC “high growth” market, where he is a civic leader.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |

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| Class III (Terms expire 2012):           |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|-----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Jerry R. Engleage 66Director since 2009  | Mr. Engle became Senior Vice President and Community Leader in the Central Region of FMC’s wholly owned subsidiary, First Merchants Bank, N. A., on January 1, 2011.  He had been the Regional President of the Central Region of First Merchants Bank from 2009-2011.  Mr. Engle was the Chairman of the Board of Directors, President and Chief Executive Officer of Lincoln Bancorp and the President and CEO of its wholly owned subsidiary, Lincoln Bank, from 2005 until FMC acquired Lincoln in 2009.  Before joining Lincoln, Mr. Engle’s broad financial institution experience included 6 years as the Chief Executive Officer and a director of First Bank, Greenwood, Indiana, which merged with Lincoln in 2005, 7 years as the Chief Executive Officer and a director of Citizens Bank of Central Indiana and a director of Citizen’s parent, Citizens National Bank of Evansville, 12 years with Bargersville State Bank, where he was the President, Chief Executive Officer and a director, and 10 years with the Indiana Department of Financial Institutions, where he was a Field Supervisor responsible for examining 76 state-chartered banks in Central Indiana. Under the provisions of the Agreement of Reorganization and Merger, dated as of September 2, 2008, between FMC and Lincoln Bancorp, Mr. Engle was elected to a 3-year term as a director of the Company at the 2009 annual meeting.  The specific experience, qualifications, attributes or skills that Mr. Engle brings to the Board include the considerable knowledge and experience he has gained in the banking industry, including service as the chief executive officer of four financial institutions prior to joining FMC.  He has provided valuable advice and insights to the other Board members and FMC management that has facilitated the merger and consolidation of Lincoln and its operations with the rest of the Company.  Mr. Engle’s many banking contacts, both in the Indianapolis area and throughout the State of Indiana, also benefit the Company.  Mr. Engle is a civic and community leader in Johnson County, Indiana, an FMC “high growth” market.  |
| William L. Hoyage 62Director since 2007  | Mr. Hoy has served as the Chief Executive Officer of The Columbus Sign Company, a 100 year-old, third generation family-owned custom sign and graphic fabricator that is one of Ohio’s largest, since 1990.  He also co-owns Innocom Corporation, an environmental graphic design and custom display company, and is the managing partner and co-owner of M&B Properties, a real estate partnership based in Columbus, Ohio.  Before becoming a small business owner in 1982, Mr. Hoy held management positions with the City of Columbus.  In 1990, he became a founding director of Commerce National Bank, which FMC acquired in 2002.  Mr. Hoy continued as a Commerce National director until its merger with First Merchants Bank, N. A. in 2009.  He has been a director and has served in board leadership positions of the Columbus Zoo and Aquarium, one of America’s leading zoos, for several years. The specific experience, qualifications, attributes or skills that Mr. Hoy brings to the Board include his experience and perspective as a successful small business owner and entrepreneur.  The Board and the Company benefit from Mr. Hoy’s long residence, high visibility, and recognized civic leadership in the Columbus, Ohio metropolitan area, an FMC’s “high growth” market.  He is the only director who resides and works in that market.  He has extensive knowledge of banking in the Columbus area, based on his 20 years as a director of Commerce National.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

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| Patrick A. Shermanage 63Director since 2009          | Mr. Sherman is a certified public accountant and is a founding partner of Sherman & Armbruster, LLP, certified public accountants, a firm he helped form in 1975.  He was a director of Lincoln Bancorp from 2005 until it was acquired by and merged with FMC in 2009.  While serving as a director of Lincoln, Mr. Sherman chaired the board’s Audit and Compliance Committees.  From 1997-2005, he was a director of Heartland Community Bank, where he was the Vice Chairman of Heartland’s board and chaired its Audit Committee. Under the provisions of the Agreement of Reorganization and Merger, dated as of September 2, 2008, between FMC and Lincoln Bancorp, the Company agreed to add Mr. Engle and one other Lincoln director to its Board.  The Board’s Nominating and Governance Committee recommended Mr. Sherman, subject to the approval of the Board and the FMC shareholders, and he was elected to a 3-year term as a director of the Company at the 2009 annual meeting.  The specific experience, qualifications, attributes or skills that Mr. Sherman brings to the Board include his financial expertise and his experience chairing the Audit Committees of two other financial institutions.  Mr. Sherman is a member of the Board’s Audit Committee and the Board has identified him as an “Audit Committee financial expert.”  He is a civic and community leader in Johnson County, an FMC “high growth” market.  |
|-----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Class I (Terms expire 2013)                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| Michael C. Rechinage 52Director since 2005           | Mr. Rechin has served as the President and Chief Executive Officer of FMC since 2007.  In 2009, he also assumed the position of President and Chief Executive Officer of First Merchants Bank, N.A., a wholly owned subsidiary of the Company, following the merger of FMC’s other three banking subsidiaries with First Merchants Bank.  From 2005-2007, prior to becoming President and CEO of FMC, Mr. Rechin was the Company’s Executive Vice President and Chief Operating Officer.  He joined the Company in 2005 after having been employed for 23 years in management positions in Cleveland and Indianapolis with National City Bank, a major regional financial institution that was recently acquired by PNC Bank.  Mr. Rechin’s service with National City Bank included 10 years, from 1995-2005, as its Executive Vice President of Corporate Banking, managing that company’s Indiana operations. The specific experience, qualifications, attributes or skills that Mr. Rechin brings to the Board include his management and leadership experience as the President and Chief Executive Officer of FMC, as well as his extensive knowledge and broad understanding of the financial services industry resulting from his nearly 30 years as a senior executive of the Company and National City Bank.  Mr. Rechin resides in and is an active civic and community leader in the Indianapolis metropolitan area, an FMC “high growth” market.                           |
| Charles E. Schalliolage 63Director since 2004   | Mr. Schalliol is an attorney and served as the Director of the Indiana Office of Management and Budget and Chief Financial Officer for the State of Indiana from 2004-2007.  As OMB Director, he was responsible for the State’s budgets and financial operations, including its two pension funds, as well as agencies with more than 2,000 state employees.  Since leaving public service in 2007, Mr. Schalliol has provided consulting services for several companies, including consulting with Credit Suisse First Boston, a worldwide financial services company, on global infrastructure funds, maintained an of counsel relationship with Baker & Daniels LLP, an Indianapolis-based law firm, and served as a director of several entities, including four venture capital funds, the Purdue Research Foundation and the Indiana University Research and Technology Corporation.  The latter two are dedicated to enhancing Purdue’s and IU’s research and development capabilities, creating new Indiana-based companies                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |

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|                                                 | supporting entrepreneurship.  Prior to serving as the Director of Indiana’s OMB, Mr. Schalliol was the first President and Chief Executive Officer of BioCrossroads, an economic development organization focused on life sciences companies; and he held several executive positions with Eli Lilly and Company, a leading worldwide pharmaceuticals company, principally in the areas of strategic planning, investment banking and business development.  He was founder and Managing Director of three Lilly venture funds. The specific experience, qualifications, attributes or skills that Mr. Schalliol brings to the Board include his executive and financial expertise as the leader of significant and complex public and private entities, as well as his high level of financial acumen, as evidenced by his primary role in the formation of successful new businesses and venture capital funds.   Mr. Schalliol’s background makes him well-qualified to advise senior management on strategic matters and to serve effectively in chairing the Board and the Compensation and Human Resources Committee.  Mr. Schalliol’s legal training and his major statewide public and nonprofit responsibilities are also important attributes that benefit FMC.  He resides in the Indianapolis metropolitan area, an FMC “high growth” market. Mr. Schalliol is a director of Heritage-Crystal Clean, Inc., a NASDAQ company, where he serves on the Compensation and Audit Committees.  |
|------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Terry L. Walkerage 64Director since 2006   | Mr. Walker has served as the Chairman of the Board of Directors and Chief Executive Officer of Muncie Power Products, Inc., a Muncie-based company with multiple U.S. locations, since 2005.  Muncie Power and its parent, Interpump Group, S.p.A., an Italy-based public company, are the largest power take-off manufacturing company in the world and serve the truck equipment market by manufacturing and distributing mobile power components and systems including, in addition to power take-offs, hydraulic gear pumps, motors, and other specialty products.  Before becoming Muncie Power’s CEO in 2005, Mr. Walker was its President and held other senior management positions during his 34-year career with that company. The specific experience, qualifications, attributes or skills that Mr. Walker brings to the Board include his leadership skills and experience as the chief executive officer of a successful company with global operations, as well as his financial expertise.  Mr. Walker provides important service to the Company as the Chairperson of the Board’s Nominating and Governance Committee.  He is a certified public accountant and serves as a member of the Board’s Audit Committee.  The Board has identified him as an “Audit Committee financial expert.”   Mr. Walker is a community and civic leader in Muncie and East Central Indiana, where FMC’s principal office and one of its largest markets is located.                     |

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----

----

| Jean L. Wojtowicz, Chairperson |
|--------------------------------|

| Terry L. Walker |
|-----------------|

----

----

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| (1)   | It has reviewed with FMC’s Chief Risk Officer the SEO compensation plans and has made all reasonable efforts to ensure that these plans do not encourage SEOs to take unnecessary and excessive risks that threaten the value of the Company; |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | It has reviewed with FMC’s Chief Risk Officer the employee compensation plans and has made all reasonable efforts to limit any unnecessary risks these plans pose to the Company: and |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3)   | It has reviewed with FMC’s Chief Risk Officer the employee compensation plans to eliminate any features of these plans that would encourage the manipulation of reported earnings of the Company to enhance the compensation of any employee. |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The Senior Management Incentive Compensation Program, under which participants may annually earn additional cash compensation; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------|

| ·   | The Long-term Equity Incentive Plan, under which the Committee awards restricted stock and stock options to participants, generally annually; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The change of control agreements, which are designed to encourage key executives to remain with FMC in the event of a proposed acquisition or other change of control situation; and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The Defined Contribution Supplemental Executive Retirement Plan, which provides additional retirement benefits to executives designated by the Committee. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The Retirement Pension Plan, a qualified defined benefit pension plan; |
|--------------------|------------------------------------------------------------------------|

| ·   | The Retirement and Income Savings Plan, a qualified §401(k) plan; |
|--------------------|------------------------------------------------------------------------|

| ·   | The Employee Stock Purchase Plan, an Internal Revenue Code §423 employee stock purchase plan; |
|--------------------|----------------------------------------------------------------------------------------------------|

| ·   | The Commercial Growth Rewards Plan, covering certain commercial banking employees; |
|--------------------|------------------------------------------------------------------------------------|

| ·   | The Mortgage Sales Manager Base Plus Rewards Plan, covering residential mortgage loan sales managers; |
|--------------------|-------------------------------------------------------------------------------------------------------|

| ·   | The Residential Mortgage Lending Rewards Plan, covering certain residential mortgage loan employees; |
|--------------------|------------------------------------------------------------------------------------------------------|

| ·   | The Retail Rewards Scorecard Plan, covering retail banking center employees; |
|--------------------|------------------------------------------------------------------------------|

| ·   | The Cash Management Rewards Plan, covering cash management officers; |
|--------------------|----------------------------------------------------------------------|

| ·   | The Annual Performance and Profit Link to Excellence (APPLE) Plan, covering employees who aren’t covered by one of the other incentive compensation plans; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The First Merchants Trust Company Brokerage Reward Plan, a commission-based compensation plan for licensed employees engaged in retail brokerage transactions; and |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| ·   | The First Merchants Insurance Services Commission Plus Continuous Plan, a commission-based compensation plan for licensed insurance agent employees engaged in insurance sales. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Charles E. Schalliol (Chairperson) |
|------------------------------------|

| Thomas B. Clark |
|-----------------|

| Roderick English |
|------------------|

| William L. Hoy |
|----------------|

----

| ·   | Michael C. Rechin, President and Chief Executive Officer; |
|--------------------|-----------------------------------------------------------|

| ·   | Mark K. Hardwick, Executive Vice President and Chief Financial Officer; |
|--------------------|-------------------------------------------------------------------------|

| ·   | Michael J. Stewart, Executive Vice President and Chief Banking Officer; |
|--------------------|-------------------------------------------------------------------------|

| ·   | Robert R. Connors, Senior Vice President and Chief Information Officer; and |
|--------------------|-----------------------------------------------------------------------------|

| ·   | John J. Martin, Senior Vice President and Chief Credit Officer. |
|--------------------|-----------------------------------------------------------------|

| Year | Amount   |
|------|----------|
| 2008 | $625,225 |
| 2009 | 518,549  |
| 2010 | 498,532  |

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| ·   | Maintaining a competitive compensation program to attract, retain and motivate high-performing, qualified executives; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------|

| ·   | Providing performance-based incentive compensation that is directly related to the Company’s financial performance and individual contributions to that performance; |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Strengthening the alignment between management effort and business strategy; and |
|--------------------|----------------------------------------------------------------------------------|

| ·   | Linking compensation to factors which affect short and long-term stock performance. |
|--------------------|-------------------------------------------------------------------------------------|

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|      Name andprincipal position                                                                      |       Year |       Salary |       Bonus(1) |      Stock awards(2) |      Option awards(2) |     Non-equity incentive plan compensation(3) | Change in pension value and non-qualified deferred compensation earnings(4) |     All other compen-sation(5) |       Total |
|-------------------------------------------------------------------------------------------------------------------------------|------------------------------------------|--------------------------------------------|----------------------------------------------|-----------------------------------------------|------------------------------------------------|-------------------------------------------------------------------|-----------------------------------------------------------------------------|----------------------------------------------------|-------------------------------------------|
| Michael C. Rechin  President and Chief   Executive Officer                                           |  200820092010                       |  $346,154350,000350,000               |  $000                                   |  $113,00044,56088,350                    |  $98,95759,2960                           |  $000                                                        |  $000                                                                  |  $67,11464,69360,182                          |  $625,225518,549498,532              |
| Mark K. Hardwick  Executive Vice  President  and Chief Financial    Officer |  200820092010                       | 243,692250,000250,000                      | 000                                          | 76,27535,64858,900                            | 52,77723,7180                                  | 000                                                               | 005,549                                                                     | 22,79421,15917,385                                 | 395,538330,525331,834                     |
| Michael J. Stewart  Executive Vice President  and Chief Banking Officer                                   |  200820092010                       |  221,808245,000245,000                |  50,00000                               |  76,32035,64858,900                      |  35,64523,7180                            |  000                                                         |  000                                                                   |  9,66015,48812,498                            |  393,433319,854316,398               |
| Robert R. Connors  Senior Vice President and  Chief Information Officer                              |  200820092010                       | 198,796200,000200,000                      | 000                                          | 56,50022,28024,738                            | 19,7918,8940                                   | 11,520016,320                                                     | 04549,450                                                                   | 18,80216,60811,784                                 | 305,409248,236262,292                     |
| John J. Martin  Senior Vice President and  Chief Credit Officer(6)                                        | 20092010                                 | 161,423181,692                             | 00                                           | 13,36817,670                                  | 5,9303,730                                     | 015,014                                                           | 00                                                                          | 10,3279,218                                        | 191,048227,324                            |

|   | (1) | First Merchants paid Mr. Stewart a sign-on bonus of $50,000 in early 2008 under an offer of employment made to him when he was hired in January 2008.  No bonuses were paid to any of the other NEOs during 2008, 2009 or 2010 except as part of a non-equity incentive plan. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | A discussion of the assumptions used in calculating these values is contained in Note 17 to the 2010 audited financial statements, on page 69 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2010. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | The amounts shown in the Non-equity Incentive Plan Compensation column are payments under the Senior Management Incentive Compensation Program for 2008, 2009 and 2010 performance that were paid in February of the following year. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (4) | The amounts shown in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column for Mr. Hardwick and Mr. Connors are the changes in the actuarial present value of their frozen benefits under the Retirement Pension Plan for 2008, 2009 and 2010.  The present value of Mr. Hardwick’s benefits decreased by $3,811 and $1,607 in 2008 and 2009, respectively; and the present value of Mr. Connor’s benefits decreased by $2,008 in 2008.  However, SEC rules require that this amount be shown as $0 in the Summary Compensation Table.  Mr. Rechin, Mr. Stewart and Mr. Martin have not participated in any defined benefit plan or other actuarial pension plan maintained by the Company.  No NEO received above-market or preferential earnings on deferred compensation during 2008, 2009 or 2010. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | The Company made matching contributions to the Retirement and Income Savings Plan for the benefit of the NEOs in the following amounts for 2008, 2009 and 2010, respectively: Mr. Rechin - $6,900, $7,350 and $7,350; Mr. Hardwick - $6,900, $7,350 and $7,350; Mr. Stewart - $6,900, $7,350 and $7,350; Mr. Connors - $6,900, $6,853 and $5,348; and Mr. Martin - $5,184 and $5,461 (for 2009 and 2010, respectively).  The Company made service-weighted employer contributions to the First Merchants Corporation Retirement and Income Savings Plan for the benefit of the NEOs in the following amounts for 2008, 2009 and 2010, respectively: Mr. Rechin - $4,600, $4,900 and $7,350; Mr. Hardwick - $9,200, $9,800 and $9,800; Mr. Stewart - $0, $4,900 and $4,900; Mr. Connors - $6,900, $7,015 and $6,276; and Mr. Martin - $3,456 and $3,641 (for 2009 and 2010, respectively).  The Company also made contributions to the Defined Contribution Supplemental Executive Retirement Plan in 2008, 2009 and 2010 for the benefit of Mr. Rechin in the amounts of $45,494, $46,949 and $44,926, respectively.  None of the NEOs received perquisites in the aggregate amount of $10,000 or more during 2008, 2009 or 2010.  The other amounts shown in the All Other Compensation column include the dollar value of life insurance premiums and dividends on restricted stock awards paid to or for the benefit of each of the NEOs during 2008, 2009 and 2010. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (6)   | Mr. Martin was employed by the Company as First Vice President and Deputy Chief Credit Officer on December 31, 2007.  He was promoted to Chief Credit Officer on June 1, 2009 and Senior Vice President on July 28, 2009. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name                     | Grant Date             | Estimated future payouts undernon-equity incentive plan awards(1) | All other stock awards; Number of shares of stock or units | All other option awards; Number  of securities underlying  options | Exercise or  base priceof option awards (per share) | Grant date fair value of stock and option awards |
|--------------------------|------------------------|-------------------------------------------------------------------|------------------------------------------------------------|----------------------------------------------------------------------------------------|---------------------------------------------------------------|--------------------------------------------------|
|  Threshold          |  Target           |  Maximum                                                     |
|  Michael C. Rechin  |  --2/25/10   |  $0                                                          |  $157,500                                             |  $315,000                                                                         |   15,000                                            |                                             |   $5.89 |   $88,350   |
|  Mark K. Hardwick   |  --2/25/10   |  0                                                           |  100,000                                              |  200,000                                                                          |   10,000                                            |                                             |   5.89 |   58,900  |
|  Michael J. Stewart |  --2/25/10   |  0                                                           |  98,000                                               |  196,000                                                                          |   10,000                                            |                                             |   5.89 |   58,900  |
|  Robert R. Connors  |  --2/25/10   |  0                                                           |  60,000                                               |  114,000                                                                          |   4,200                                             |                                             |   5.89 |   24,738  |
|  John J. Martin     |  --2/25/102/25/10 |  0                                                           |  55,200                                               |  104,880                                                                          |   3,000                                             |    2,000                          |   5.89 |   17,6703,730 |

|   | (1) | The amounts shown in the Estimated Future Payouts under Non-equity Incentive Plan Awards column are the range of payouts for targeted performance under the Senior Management Incentive Compensation Program for 2010, as described in the Section entitled “Elements of Executive Compensation Program – Cash Incentive Pay” in the Compensation Discussion and Analysis on pages 22-23.  The payments made in February 2011 for 2010 performance under the Program are shown in the Non-equity Incentive Plan Compensation column of the Summary Compensation Table on page 27. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|        Name                   |   Option Awards                                              |   Stock Awards                              |
|------------------------------------------------------------------|------------------------------------------------------------------------|-------------------------------------------------------|
| Number of securities underlying unexercised options(Exercisable) | Number of securities underlying unexercised options(1) (Unexercisable) |   Option exercise price                     |   Option expiration date |  Number of shares or units of stock that have not vested(2) |  Market value of shares or units of stock that have not vested |
|  Michael C. Rechin                                          |  10,000 8,00012,00015,000                               |      20,000                  |  $25.9025.1426.3128.2511.14 |  11/21/152/10/162/8/172/27/182/24/19  |  23,075  |  $204,445   |
|  Mark K. Hardwick                                           |  4,4095,2496,00010,0007,0008,0008,000                             |         8,000 |  26.9323.4625.6026.7025.1426.3128.2511.14 |  7/1/127/1/137/1/149/1/152/10/162/8/172/27/182/24/19  |  15,950  |  141,317  |
|  Michael J. Stewart                                         |  6,000                                                  |   8,000                                |  25.4411.14 |  1/29/182/24/19  |  16,250 |  143,975  |
|  Robert R. Connors                                          |  3,3075,2496,0008,0004,0004,5003,000                         |         3,000 |  25.3323.4625.6026.7025.1426.3128.2511.14 |  8/26/127/1/137/1/149/1/152/10/162/8/172/27/182/24/19  |  8,221  |  72,838  |
|  John J. Martin                                             |                                                                   |  2,0002,000                                 |  11.145.89  |  2/24/192/25/20  |  5,915  |  52,407  |

|   | (1) | The vesting dates of the option awards that had not vested at fiscal year-end 2010 are as follows: the vesting date for Mr. Rechin’s option to purchase 20,000 shares, Mr. Hardwick’s option to purchase 8,000 shares, Mr. Stewart’s option to purchase 8,000 shares, and Mr. Connor’s option to purchase 3,000 shares is February 24, 2011; and the respective vesting dates for Mr. Martin’s options to purchase 2,000 shares and 2,000 shares are February 24, 2011 and February 25, 2012. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | Of the stock awards that had not vested at fiscal year-end 2010, 4,000 of Mr. Rechin’s shares vested on February 27, 2011, 4,000 shares will vest on February 24, 2012, and l5,075 shares will vest on February 25, 2013; 2,700 of Mr. Hardwick’s shares vested on February 27, 2011, 3,200 shares will vest on February 24, 2012, and 10,050 shares will vest on February 25, 2013; 3,000 of Mr. Stewart’s shares vested on January 29, 2011, 3,200 shares will vest on February 24, 2012, and 10,050 shares will vest on February 25, 2013; 2,000 shares of Mr. Connor’s shares vested on February 27, 2011, 2,000 shares will vest on February 24, 2012, and 4,221 shares will vest on February 25, 2013; 1,000 of Mr. Martin’s shares vested on January 29, 2011, 700 shares vested on February 27, 2011, 1,200 shares will vest on February 24, 2012, and 3,015 shares will vest on February 25, 2013. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|        Name |   Option awards        |   Stock awards                   |
|------------------------------------------------|----------------------------------|--------------------------------------------|
|  Number of shares acquired on exercise    |  Value realized on exercise |  Number of shares acquired on vesting |  Value realized on vesting(1) |
|  Michael C. Rechin                        | 0                                | 0                                          | 3,000 | $16,980 |
|  Mark K. Hardwick                         | 0                                | 0                                          | 2,400 | 13,584 |
|  Michael J. Stewart                       | 0                                | 0                                          | 0 | 0 |
|  Robert R. Connors                        | 0                                | 0                                          | 1,600 | 9,056 |
|  John J. Martin                           | 0                                | 0                                          | 0 | 0 |

|   | (1) | The value realized on vesting was computed by multiplying the number of shares of stock by the market value of the shares on the vesting date. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name                     | Plan name    | Number of years credited service (1) | Present value of accumulated benefit | Payments during last fiscal year |
|--------------------------|--------------|--------------------------------------|--------------------------------------|----------------------------------|
|  Michael C. Rechin  | N/A          | N/A                                  | N/A                                  | N/A                              |
|  Mark K. Hardwick   | Pension Plan | 7.32                                 | $26,357                              | $0                               |
|  Michael J. Stewart | N/A          | N/A                                  | N/A                                  | N/A                              |
|  Robert R. Connors  | Pension Plan | 2.50                                 | 75,013                               | 0                                |
|  John J. Martin     | N/A          | N/A                                  | N/A                                  | N/A                              |

|   | (1) | Mr. Rechin, Mr. Stewart and Mr. Martin were not participants in the Retirement Pension Plan.  Mr. Hardwick’s and Mr. Connors’ benefits under the plan were frozen, effective March 1, 2005.  Their years of credited service under the plan were one fewer than their number of actual years of service with the Company when the Plan was frozen. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name                       | Executive contributions in last fiscal year | Company’s contributions in last fiscal year | Aggregate earnings in last  fiscal year | Aggregate withdrawals/ Distributions | Aggregate balance atfiscal year end |
|----------------------------|---------------------------------------------|---------------------------------------------------|---------------------------------------------------|--------------------------------------|-------------------------------------|
|  Michael C. Rechin(1) | 0                                           | $44,926                                           | $10,420                                           | 0                                    | $152,221                            |
|  Mark K. Hardwick     | N/A                                         | N/A                                               | N/A                                               | N/A                                  | N/A                                 |
|  Michael J. Stewart   | N/A                                         | N/A                                               | N/A                                               | N/A                                  | N/A                                 |
|  Robert R. Connors    | N/A                                         | N/A                                               | N/A                                               | N/A                                  | N/A                                 |
|  John J. Martin       | N/A                                         | N/A                                               | N/A                                               | N/A                                  | N/A                                 |

| (1)   | Mr. Rechin is the only participant in the SERP.  FMC credited 12% of Mr. Rechin’s compensation (base salary plus non-equity incentive pay) to his account for 2010.  This amount is also reported as compensation to Mr. Rechin in the Summary Compensation Table on page 27, in the column headed “All Other Compensation.” |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Name                     | Multiplier | Severance Benefit Amount | Bargain Element Values of Outstanding Stock Options(1) | Estimated Values of Insurance Coverages for 2 years | Estimated Excise Tax Under IRC §4999(2) |
|--------------------------|------------|--------------------------|--------------------------------------------------------|-----------------------------------------------------|----------------------------------------------|
|  Michael C. Rechin  | 299%       | $1,046,500               | $0                                                     | $36,348                                             | $31,900                                      |
|  Mark K. Hardwick   | 299%       | 747,500                  | 0                                                      | 36,348                                              | 27,997                                       |
|  Michael J. Stewart | 299%       | 732,550                  | 0                                                      | 23,934                                              | 12,584                                       |
|  Robert R. Connors  | 150%       | 300,000                  | 0                                                      | 36,348                                              | 0                                            |
|  John J. Martin     | 150%       | 276,000                  | 5,940                                                  | 27,383                                              | 0                                            |

| (1)   | All of the NEOs’ outstanding stock options were out-of-the-money on December 31, 2010, except for the option granted to Mr. Martin on February 25, 2010 to purchase 2,000 shares at a price of $5.89/share. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | As noted above, since February 2011, the agreements no longer provide for payment by FMC of this excise tax |
|-----------------|-------------------------------------------------------------------------------------------------------------|

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| Name                       | Fees earned or paid in cash | Stock awards(1)(2) | Option awards(1)(2) | All Other Compensation(3) | Total   |
|----------------------------|-----------------------------|--------------------|---------------------|---------------------------|---------|
|  Thomas B. Clark(4)   | $25,000                     | $25,000            | $3,821              | $196                      | $54,017 |
|  Roderick English     | 20,013                      | 19,987             | 3,821               | 174                       | 43,995  |
|  Jo Ann M. Gora       | 20,013                      | 19,987             | 3,821               | 174                       | 43,995  |
|  William L. Hoy(5)    | 20,013                      | 19,987             | 3,821               | 174                       | 43,995  |
|  Barry J. Hudson(5)   | 20,013                      | 19,987             | 3,821               | 174                       | 43,995  |
|  Charles E. Schalliol | 40,020                      | 39,978             | 3,821               | 327                       | 84,148  |
|  Patrick A. Sherman   | 20,013                      | 19,987             | 3,821               | 127                       | 43,995  |
|  Terry L. Walker(4)   | 22,519                      | 22,481             | 3,821               | 196                       | 49,017  |
|  Jean L. Wojtowicz    | 27,517                      | 27,483             | 3,821               | 218                       | 59,039  |

| (1)   | A discussion of the assumptions used in calculating these values is contained in Note 17 to the 2010 audited financial statements, on page 69 of FMC’s Annual Report on Form 10-K for the year ended December 31, 2010. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | As of the end of the 2010 fiscal year, the aggregate number of shares that had not vested under stock awards to each director under the Equity Compensation Plan for Non-employee Directors was as follows: Mr. Clark – 6,909; Mr. English, Dr. Gora, Mr. Hoy and Mr. Hudson – 5,886 each; Mr. Schalliol – 11,322; Mr. Sherman – 4,704; Mr. Walker – 6,621; and Ms. Wojtowicz – 7,641.  As of the end of the 2010 fiscal year, each director had the following aggregate number of option awards outstanding under the Long-term Equity Incentive Plan: Mr. Clark – 12,256; Mr. English, Dr. Gora and Mr. Schalliol – 7,628 each; Mr. Hoy – 4,157; Mr. Hudson – 12,301; Mr. Sherman – 3,000; Mr. Walker – 5,314; and Ms. Wojtowicz – 8,785. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | The dollar amounts shown under “All Other Compensation” represent the dividends paid during 2010 on the stock awards to the non-employee directors under the Equity Compensation Plan for Non-Employee Directors. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Mr. Clark deferred payment of all of his director compensation earned in 2010, including both fees payable in cash and stock awards (and the interest and dividends thereon), under the provisions of the Directors’ Deferred Compensation Plan.  Mr. Walker deferred payment of all of his 2010 fees payable in cash (and the interest thereon) but none of his stock awards, under the provisions of that Plan. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | In addition to their compensation for their services as directors, Mr. Hoy received $2,000 in 2010 from First Merchants Bank, N. A., a wholly-owned subsidiary of FMC, for his services as a regional director of the Columbus Region of the Bank; and Mr. Hudson received distributions totaling $215,280 in 2010 under an insurance-funded deferred compensation plan in which he participated prior to his retirement as Chairman of the Board of Directors of First National Bank of Portland, N. A., which merged with First Merchants Bank, N. A. in 2007. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|               |   | 2009   |    |   | 2010   |   |
|--------------------|--------|--------|---------|--------|--------|--------|
| Audit Fees         |   | $      | 344,179 |   |   | $      | 317,000 |   |
| Audit-Related Fees |   |   | 37,500  |   |   |   | 77,039 |   |
| Tax Fees           |   |   | 86,636  |   |   |   | 119,512 |   |
| All Other Fees     |   |   | 0       |   |   |   | 0 |   |
| Total Fees         |   | $      | 468,315 |   |   | $      | 513,551 |   |

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