Document:

Employment Agreement

 Exhibit 10.27 

EMPLOYMENT AGREEMENT 

THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into this fourteenth day of January, 2014 by and between
FARO Technologies, Inc., a Florida corporation (the “Company”), and Jody S. Gale (“Executive”), to be effective as of February 3, 2014 (the “Effective Date”). 

BACKGROUND 
 The Company
desires to engage Executive as the Senior Vice President, General Counsel & Secretary of the Company from and after the Effective Date, in accordance with the terms of this Agreement. Executive is willing to serve as such in
accordance with the terms and conditions of this Agreement. 
 NOW THEREFORE, in consideration of the foregoing and of the mutual covenants
and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

1. Employment. Executive is hereby employed on the Effective Date as the Senior Vice President, General Counsel &
Secretary of the Company. In such capacity, Executive shall have the duties, responsibilities and authority commensurate with such position as shall be assigned to him by the Chief Executive Officer of the Company (the “CEO”),
and will report directly to the CEO. 
 2. Employment Period. Unless earlier terminated in accordance with Section 6,
Executive’s employment shall be for a term beginning on the Effective Date and ending on February 3, 2015 (the “Employment Period”). Beginning on February 3, 2015 and on each February 3rd
thereafter, the Employment Period shall, without further action by Executive or the Company, be extended by an additional one-year period; provided, however, that either party may cause the Employment Period to cease to extend automatically,
by giving written notice to the other not less than 60 days prior to any February 3rd renewal date. Upon such notice, the Employment Period shall terminate upon the expiration of the then-current term, including any prior extensions.

 3. Extent of Service. During the Employment Period, Executive shall devote substantially all of his business effort, time, energy,
and skill to the business of the Company, to the promotion of the interests of the Company, and to the fulfillment of Executive’s obligations under this Agreement. Executive acknowledges and agrees that from time to time the Company may assign
Executive to different or additional positions with the Company or one of the Company’s affiliated companies, with such title, duties, and responsibilities as determined by the Company in its sole discretion. Executive agrees to serve any and
all such positions without additional compensation. 
 4. Compensation and Benefits. 

(a) Base Salary. During the Employment Period, the Company will pay to Executive base salary at the rate of U.S. $285,000 per
year (“Base Salary”), less normal withholdings, payable in approximately equal bi-weekly or other installments as are or become customary under the Company’s payroll practices for its employees from time to time. The
Compensation Committee of the Board of Directors (the “Board”) shall review Executive’s Base Salary annually and may adjust Executive’s Base Salary from year to year. Such adjusted salary then shall become Executive’s
Base Salary for purposes of this Agreement. 

  
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 (b) Incentive, Savings and Retirement Plans. During the Employment Period, Executive shall
be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs available to employees of the Company based in the United States. Without limiting the foregoing, the following shall apply: 

(i) during the Employment Period, Executive will have an opportunity to receive an annual cash bonus based upon the achievement of
performance goals established from year to year by the Compensation Committee of the Board, with a target bonus of forty percent (40%) of his Base Salary. Notwithstanding the foregoing, Executive’s annual bonus for fiscal year 2014,
if any, shall be prorated based on the number of days Executive is employed by the Company during fiscal year 2014. Except as otherwise provided by the Board, Executive must be employed by the Company on the date the annual bonus, if any, is paid in
order to receive the annual bonus; and 
 (ii) during the Employment Period, Executive will be eligible for annual grants under the
Company’s long-term incentive plan or plans of stock-based awards based upon the achievement of performance goals established from year to year by the Compensation Committee of the Board, with a target value of seventy-five percent
(75%) of his Base Salary. Grants are expected to be awarded as a combination of stock options and restricted stock units, in a ratio of 75% and 25%, respectively. Nothing in this Agreement requires the Board to make grants of
options or other awards in any year or to make grants of any specific types of awards or in any certain amount or ratio. 
 (c) Welfare
Benefit Plans. During the Employment Period, Executive and Executive’s eligible dependents shall be eligible for participation in, and shall receive all benefits under, the welfare benefit plans, practices, policies and programs provided by
the Company to the extent available to all senior executive employees of the Company based in the United States, subject to the terms and conditions of any such plans. 

(d) Expenses. During the Employment Period, Executive shall be entitled to receive prompt reimbursement for all reasonable expenses
incurred by Executive in the course of performing his duties and responsibilities under this Agreement, in accordance with the policies, practices and procedures of the Company to the extent available to employees of the Company based in the United
States with respect to travel, entertainment and other business expenses. 
 (e) Temporary Housing. During calendar year 2014,
Executive shall be entitled to provision of, or reimbursement for, temporary housing through August 3, 2014 (“Temporary Housing Expenses”). If Executive shall receive reimbursement for Temporary Housing Expenses, then such
reimbursements shall be paid within thirty (30) days following Executive’s submission of evidence, satisfactory to the Company, of the incurrence of such Temporary Housing Expenses, and any such reimbursements pursuant to this
Section 4(e) shall be made during calendar year 2014. 
 (f) Relocation Expenses. During calendar year 2014, Executive shall be
entitled to reimbursement of the following relocation expenses (collectively, the “Relocation Expenses”): (i) round-trip coach/economy airfare for Executive and his spouse for two (2) house hunting trips to Lake Mary, FL
and lodging expenses incurred for reasonable accommodations during such trips, and (ii) one-way coach/economy airfare for each of Executive, his spouse and his dependents for their final move to the Lake Mary, FL area. Reimbursements for
Relocation Expenses shall be paid within thirty (30) days following Executive’s submission of evidence, satisfactory to the Company, of the incurrence of such Relocation Expenses. All reimbursements pursuant to this Section 4(f) shall
be made during calendar year 2014. In addition, during calendar year 2014, the Company shall provide for a one-time pack and move of Executive’s personal goods from his residence in Indiana to his residence in Lake Mary, FL. 

  
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 (g) Signing Bonus. The Company shall pay to Executive a one-time signing bonus equal to
fifty thousand dollars ($50,000), payable in a single lump sum in cash within thirty (30) days following the Effective Date. 

5. Change in Control. Executive shall be a participant in the FARO Technologies, Inc. Change in Control Severance Policy, as amended
(the “CIC Policy”), a copy of which has been provided to Executive. For the avoidance of doubt, if Executive becomes eligible to receive benefits under the CIC Policy, he shall not be eligible to receive any benefits pursuant to
Section 7. In addition, upon a Change in Control (as defined in the Company’s long-term incentive plan or plans), (a) any outstanding and unvested stock options held by Executive shall become fully vested and exercisable, and such
stock options shall thereafter continue or lapse in accordance with the other provisions of the applicable award certificate; and (b) any outstanding restricted stock units held by Executive shall become fully vested and shall immediately
convert to shares of Company common stock. 
 6. Termination of Employment. 

(a) Death or Retirement. Executive’s employment shall terminate automatically upon Executive’s death or retirement during the
Employment Period. 
 (b) Disability. If the Company determines in good faith that Executive has become Disabled (as defined below)
during the Employment Period, it may give to Executive written notice of its intention to terminate Executive’s employment. In such event, Executive’s employment with the Company shall terminate effective on the 30th day after receipt of
such written notice by Executive (the “Disability Effective Date”), provided that, within the 30 days after such receipt, Executive shall not have returned to full-time performance of Executive’s duties. For purposes of this
Agreement, Executive shall be Disabled if, as determined by the Board in good faith, Executive is, by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a
continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering employees of the Company, as determined by the Board in good faith. 

(c) Termination by the Company. The Company may terminate Executive’s employment during the Employment Period with or without
Cause. For purposes of this Agreement, “Cause” means (i) Executive’s failure to perform substantially his duties with the Company and/or any affiliate (excluding any such failure resulting from Executive’s Disability)
after a written demand for substantial performance is delivered to Executive by or on behalf of the Board which identifies the manner in which the Board believes that Executive has not substantially performed his duties and providing Executive 30
days to cure the identified deficiencies, (ii) Executive engages in illegal conduct or gross misconduct that is materially injurious to the Company or any affiliate, (iii) Executive engages in conduct or misconduct that materially harms
the reputation or financial position of the Company or any affiliate, (iv) Executive is convicted of, or pleads nolo contondere to, a felony or to a crime involving fraud, dishonesty, violence or moral turpitude, (v) Executive is found
liable in any SEC or other civil or criminal securities law action, (vi) Executive commits an act of fraud or embezzlement against the Company or any affiliate, or (vii) Executive accepts a bribe or kickback. 

(d) Termination by Executive. Executive’s employment may be terminated by Executive with or without Good Reason. Executive’s
termination without Good Reason shall require 30 days’ prior written notice to the Company. Executive’s termination for Good Reason must occur within a period of 120 days after the occurrence of an event of Good Reason. For purposes of
this Agreement, “Good Reason” shall mean, without Executive’s consent, the Company’s relocation of his principal office more than 50 miles from his current office location in Lake Mary, FL. A termination by Executive shall

  
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not constitute termination for Good Reason unless Executive shall first have delivered to the Company written notice setting forth with specificity the occurrence deemed to give rise to a right
to terminate for Good Reason within 30 days after the initial occurrence of such event. Following receipt of such notice from Executive, the Company shall have a period of 60 days within which it may take action to correct, rescind or otherwise
substantially reverse the occurrence supporting termination for Good Reason as identified by Executive. Good Reason shall not include Executive’s death or Disability. The parties intend, believe and take the position that a resignation by
Executive for Good Reason as defined above effectively constitutes an involuntary separation from service within the meaning of Section 409A of the Code and Treas. Reg. Section 1.409A-1(n)(2). 

(e) Notice of Termination. Any termination by the Company or Executive shall be communicated by Notice of Termination to the other
party given in accordance with Section 12(d). For purposes of this Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific termination provision in this Agreement relied upon,
(ii) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated, and (iii) if the Date of Termination (as
defined below) is other than the date of receipt of such notice, specifies the termination date. The failure by Executive or the Company to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason
or Cause shall not waive any right of Executive or the Company, respectively, under this Agreement or preclude Executive or the Company, respectively, from asserting such fact or circumstance in enforcing Executive’s or the Company’s
rights under this Agreement. 
 (f) Date of Termination. “Date of Termination” means (i) if Executive’s
employment is terminated by the Company other than for Disability, the date specified in the Notice of Termination (which shall be not less than 60 days after delivery of such notice, but Executive may waive such notice), (ii) if
Executive’s employment is terminated by Executive, the date specified in Executive’s Notice of Termination (which shall be not less than 60 days after delivery of such notice, but the Company may waive such notice), or (iii) if
Executive’s employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of Executive or the Disability Effective Date, as the case may be. 

7. Obligations of the Company upon Termination. 

(a) Termination by Executive for Good Reason; Termination by the Company Other Than for Cause or Disability. If, during the Employment
Period, the Company shall terminate Executive’s employment other than for Cause or Disability, or Executive shall terminate employment for Good Reason, then: 

(i) the Company shall pay to Executive in a lump sum in cash on the first regular payday following the Date of Termination,
Executive’s Base Salary through the Date of Termination to the extent not previously paid (the “Accrued Salary”); 

(ii) the Company shall pay to Executive severance equal to Executive’s Base Salary, payable in approximately equal
installments over a period of twelve (12) months, the first payment to be made within the first 60 days after the Date of Termination (such first payment date during such period to be determined exclusively by the Company), or such later date
as may be required pursuant to Section 11, and with monthly payments thereafter in accordance with the Company’s normal payroll practices; provided, that (A) within 45 days after the Date of Termination Executive shall have executed a
general release of claims and covenant not to sue in favor of the Company and its affiliates, in the form provided by the Company and such release shall not have been revoked within any revocation period specified in such release, and
(B)

  
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Executive complies with the Non-Competition Addendum, dated as of July 15, 2013. Each installment payment shall be considered a separate payment, as described in Treas. Reg.
Section 1.409A-2(b)(2), for purposes of Section 409A of the Code; 
 (iii) any outstanding and unvested stock
options held by Executive shall become fully exercisable as of the Date of Termination, and such stock options shall thereafter continue or lapse in accordance with the other provisions of the applicable award certificate; 

(iv) any outstanding restricted stock units held by Executive shall become fully vested as of the Date of Termination and shall
immediately convert to shares of Company common stock on the Date of Termination; and 
 (v) to the extent not previously
paid or provided, the Company shall timely pay or provide to Executive any other amounts or benefits required to be paid or provided or which Executive is eligible to receive under any plan, program, policy or practice or contract or agreement of
the Company and its affiliated companies (such other amounts and benefits, the “Other Benefits”). 
 (b) Death,
Disability or Retirement. If Executive’s employment is terminated by reason of Executive’s death, Disability or retirement during the Employment Period, this Agreement shall terminate without further obligations to Executive or
Executive’s legal representatives under this Agreement, other than for payment of Accrued Salary and the timely payment or provision of Other Benefits. Accrued Salary shall be paid to Executive or Executive’s estate or beneficiary, as
applicable, in a lump sum in cash within 30 days after the Date of Termination. With respect to the provision of Other Benefits, the term Other Benefits as used in this Section 7(b) shall include without limitation, and Executive or
Executive’s estate and/or beneficiaries shall be entitled to receive, benefits under such plans, programs, practices and policies relating to death, disability or retirement benefits, if any, as are applicable to Executive on the Date of
Termination. 
 (c) Cause; Other than for Good Reason. If Executive’s employment shall be terminated for Cause during the
Employment Period, or Executive shall resign other than for Good Reason or Disability, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Salary and the timely payment or provision of Other
Benefits. Accrued Salary shall be paid to Executive in a lump sum in cash on the first regular payday following the Date of Termination. 

(d) Expiration of Employment Period. If Executive’s employment shall be terminated due to the normal expiration of the Employment
Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Salary and the timely payment or provision of Other Benefits. Accrued Salary shall be paid to Executive in a lump sum in cash within
30 days after the Date of Termination. 
 (e) Resignations. Termination of Executive’s employment for any reason whatsoever
shall constitute Executive’s resignation as an officer of the Company, its subsidiaries and affiliates. 
 8. Non-exclusivity of
Rights. Nothing in this Agreement shall prevent or limit Executive’s continuing or future participation in any employee benefit plan, program, policy or practice provided by Parent or its affiliated companies and for which Executive may
qualify, except as specifically provided in this Agreement. Amounts that are vested benefits or which Executive is otherwise entitled to receive under any plan, policy, practice or program of the Company or any of its affiliated companies at or
subsequent to the Date of Termination shall be payable in accordance with such plan, policy, practice or program except as explicitly modified by this Agreement. 

  
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 9. Full Settlement; No Mitigation. The Company’s obligation to make the payments
provided for in this Agreement and otherwise to perform its obligations under this Agreement shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may have against Executive or
others. In no event shall Executive be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Executive under any of the provisions of this Agreement and such amounts shall not be reduced whether
or not Executive obtains other employment. 
 10. Successors. 

(a) This Agreement is personal to Executive and without the prior written consent of the Company shall not be assignable by Executive otherwise
than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s legal representatives. 

(b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

(c) The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place.
As used in this Agreement, “Company” shall mean the Company and any successor to its business and/or assets as aforesaid which assumes and agrees to perform this Agreement by operation of law, or otherwise. 

11. Code Section 409A. 

(a) General. This Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be
paid or provided in a manner that is either exempt from or compliant with the requirements of Section 409A of the Code and applicable Internal Revenue Service guidance and Treasury Regulations issued thereunder (and any applicable transition
relief under Section 409A of the Code). Nevertheless, the tax treatment of the benefits provided under the Agreement is not warranted or guaranteed. Neither the Company nor its directors, officers, employees or advisers shall be held liable for
any taxes, interest, penalties or other monetary amounts owed by Executive as a result of the application of Section 409A of the Code. 

(b) Definitional Restrictions. Notwithstanding anything in this Agreement to the contrary, to the extent that any amount or benefit
that would constitute non-exempt “deferred compensation” for purposes of Section 409A of the Code (“Non-Exempt Deferred Compensation”) would otherwise be payable hereunder by reason of Executive’s termination of
employment, such Non-Exempt Deferred Compensation will not be payable to Executive by reason of such circumstance unless the circumstances giving rise to such termination of employment meet any description or definition of “separation from
service” in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that may be available under such definition). This provision does not affect the dollar amount or prohibit the vesting
of any Non-Exempt Deferred Compensation upon a termination of employment, however defined. If this provision prevents the payment of any Non-Exempt Deferred Compensation, such payment shall be made at the time and in the form that would have applied
absent the non-409A-conforming event. 

  
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 (c) Six-Month Delay in Certain Circumstances. Notwithstanding anything in this Agreement
to the contrary, if any amount or benefit that would constitute Non-Exempt Deferred Compensation would otherwise be payable or distributable under this Agreement by reason of Executive’s separation from service during a period in which he is a
Specified Employee (as defined below), then, subject to any permissible acceleration of payment by the Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or (j)(4)(vi) (payment
of employment taxes): (i) the amount of such Non-Exempt Deferred Compensation that would otherwise be payable during the six-month period immediately following Executive’s separation from service will be accumulated through and paid or
provided on the first day of the seventh month following Executive’s separation from service (or, if Executive dies during such period, within 30 days after Executive’s death) (in either case, the “Required Delay Period”);
and (ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required Delay Period. For purposes of this Agreement, the term “Specified Employee” has the meaning
given such term in Code Section 409A and the final regulations thereunder. 
 (e) Timing of Release of Claims. Whenever in this
Agreement a payment or benefit is conditioned on Executive’s execution of a release of claims, such release must be executed and all revocation periods shall have expired within 60 days after the Date of Termination; failing which such payment
or benefit shall be forfeited. If such payment or benefit constitutes Non-Exempt Deferred Compensation, then, subject to subsection (c) above, such payment or benefit (including any installment payments) that would have otherwise been payable
during such 60-day period shall be accumulated and paid on the 60th day after the Date of Termination provided such release shall have been executed and such revocation periods shall have expired.
If such payment or benefit is exempt from Section 409A of the Code, the Company may elect to make or commence payment at any time during such period. 

(f) Timing of Reimbursements and In-kind Benefits. If Executive is entitled to be paid or reimbursed for any taxable expenses under
this Agreement and such payments or reimbursements are includible in Executive’s federal gross taxable income, the amount of such expenses reimbursable in any one calendar year shall not affect the amount reimbursable in any other calendar
year, and the reimbursement of an eligible expense must be made no later than December 31 of the year after the year in which the expense was incurred. No right of Executive to reimbursement of expenses under Section 4 shall be subject to
liquidation or exchange for another benefit. 
 12. Miscellaneous. 

(a) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida, without
reference to principles of conflict of laws. Executive agrees that the exclusive forum for any action to enforce this Agreement, as well as any action relating to or arising out of this Agreement, shall be the state or federal courts of the State of
Florida. With respect to any such court action, Executive hereby (a) irrevocably submits to the personal jurisdiction of such courts; (b) consents to service of process; (c) consents to venue; and (d) waives any other requirement
(whether imposed by statute, rule of court, or otherwise) with respect to personal jurisdiction, service of process, or venue. Both parties hereto further agree that the state and federal courts of the State of Florida and the State of Pennsylvania
are convenient forums for any dispute that may arise herefrom and that neither party shall raise as a defense that such courts are not convenient forums. 

(b) Captions. The captions of this Agreement are not part of the provisions of this Agreement and shall have no force or effect. Except
as otherwise provided, all references in this Agreement to “Section” or “Sections” refer to the corresponding section or sections of this Agreement. 

  
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 (c) Amendments. This Agreement may not be amended or modified otherwise than-by a written
agreement executed by the parties hereto or their respective successors and legal representatives. 
 (d) Notices. All notices and
other communications under this Agreement shall be in writing and shall be given by hand delivery to the other party or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows: 

 

							
	If to Executive:	  	Jody Gale	  		  	
		  	2667 Harmony Court	  		  	
		  	Winona Lake, IN	  		  	
				
	If to the Company:	  	FARO Technologies, Inc.	  		  	
		  	250 Technology Park	  		  	
		  	Lake Mary, Florida 32746	  		  	
		  	Attention: Secretary	  		  	

 or to such other address as either party shall have furnished to the other in writing in accordance with this
Section 12(d). Notice and communications shall be effective when actually received by the addressee. 
 (e) Severability. The
invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement. 

(f) Withholding. The Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as
shall be required to be withheld pursuant to any applicable law or regulation. 
 (g) Waivers. Executive’s or the Company’s
failure to insist upon strict compliance with any provision of this Agreement or the failure to assert any right Executive or the Company may have under this Agreement, shall not be deemed to be a waiver of such provision or right or any other
provision or right of this Agreement. 
 (h) Entire Agreement. Except as otherwise provided in this Agreement, this Agreement
contains the entire agreement between the Company and Executive with respect to the subject matter hereof and, from and after the Effective Date, this Agreement shall supersede any other agreement between the parties with respect to the subject
matter hereof. The parties agree that this Agreement shall not supersede the Patent & Confidentiality Agreement or the Non-Competition Addendum, both of which shall remain in full force and effect in accordance with their terms. 

IN WITNESS WHEREOF, Executive has hereunto set Executive’s hand and, pursuant to the authorization from the Board, the Company has caused these presents
to be executed in its name on its behalf, all as of the day and year first above written. 
  

	
	 /s/ Jody S. Gale

	Jody S. Gale

  

  
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	FARO TECHNOLOGIES, INC.
		
	By:	 	 /s/ Jay Freeland

	Its:	 	President and Chief Executive Officer

  
 9Exhibit

EXHIBIT 10.13

PERFORMANCE UNIT AGREEMENT

This Performance Unit Agreement (this “Agreement”) is made as of the 30th day of December, 2015 (the “Effective Date”) by and between First Commonwealth Financial Corporation (the “Company”) and T. Michael Price (the “Grantee”).  

RECITALS
WHEREAS, Grantee is employed as the President and Chief Executive Officer of the Company; and
WHEREAS, the Compensation & Human Resources Committee of the Board of Directors of the Company has approved the award of Performance Units to provide an incentive for Grantee to remain in the employ of the Company and to further align Grantee’s compensation with the long-term growth and success of the Company. 
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing premises and of the mutual covenants contained herein, the Company and Grantee agree as follows: 

1.Grant of Performance Units.  The Company hereby grants to Grantee a Performance Unit award (the “Award”) of 60,000 Stock Units (the “Target Units”).  The Award is made pursuant to and is subject to the provisions of this Agreement and the First Commonwealth Financial Corporation Incentive Compensation Plan, as Amended and Restated effective April 28, 2015 (the “Plan”).  Capitalized terms used but not defined in this Agreement shall have the meanings ascribed to them in the Plan.  Except as otherwise specifically provided in this Agreement, in order for Stock Units to become “Vested Units”, both of the following conditions must be satisfied:  (i) the Stock Units must be “Earned Units” upon the achievement of the Performance Goals set forth in Section 3 of this Agreement; and (ii) Grantee must remain continuously an Employee until December 30, 2020 (the “Service Condition”).
2.Forfeiture Restrictions.  Except as otherwise specifically provided in this Agreement, all Stock Units granted herein (whether or not such Stock Units are then Earned Units) will be automatically and immediately forfeited, without any action on the part of the Company, if Grantee Separates from Service for any reason prior to December 30, 2020.  No Stock Units may be sold, assigned, transferred, pledged or otherwise disposed of except as provided in this Agreement and the Plan.  Any attempt to dispose of any Stock Units in contravention of this Agreement or the Plan will be null and void and without effect.
3.Performance Condition.  The Stock Units shall become “Earned Units” if and to the extent the Company achieves the following Performance Goals:
(a)Annual Performance Goal.  A number of Stock Units equal to 20% of the Target Units shall become Earned Units in each of the Company’s 2016 through 2020 

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EXHIBIT 10.13

fiscal years if the Company’s EPS (as defined below) for that fiscal year equals or exceeds the Company’s EPS for the fiscal year ending December 31, 2015.  
(b)Cumulative Performance Goal.  To the extent not otherwise forfeited pursuant to the terms of this Agreement, any Stock Units which have not become Earned Units based upon the attainment of the annual Performance Goal provided in Section 3(a) above shall become Earned Units if the average of the Company’s EPS for the fiscal years 2016 through 2020 equals or exceeds the Company’s Adjusted EPS for the fiscal year ending December 31, 2015.  
(c)EPS.  “EPS” for a fiscal year shall mean the Company’s fully diluted earnings per share for such fiscal year as calculated in accordance with generally accepted accounting principles.  At the end of each fiscal year, the Committee will certify in writing the extent to which the applicable annual and/or cumulative Performance Goals have been achieved.  For purposes of this provision, and for so long as the Code permits, the approved minutes of the Committee meeting in which the certification is made may be treated as written certification.  
(d)Change in Control.  If a Change in Control occurs prior to December 31, 2020, and unless otherwise specifically provided herein, all Stock Units awarded under this Agreement shall remain subject to Grantee’s satisfaction of the Service Condition.  For fiscal years completed prior to the Change in Control, Grantee shall remain eligible to satisfy the Service Condition for any Stock Units that have become Earned Units based on the achievement of the Performance Goals applicable to such fiscal year (as certified by the Committee).  For fiscal years not completed prior to the Change in Control, the annual Performance Goal applicable to any such fiscal year shall be deemed to have been satisfied for purposes of determining the number of Stock Units that are Earned Units, and Grantee shall remain eligible to satisfy the Service Condition with respect to any such Earned Units.  To illustrate, if a Change in Control occurs on June 30, 2018, the annual Performance Goals applicable to 2018, 2019 and 2020 will be deemed to have been achieved resulting in 60% of the Target Units becoming Earned Units. 
4.Acceleration of Vesting.  
(a)    Death or Disability.  Notwithstanding anything to the contrary in this Agreement, if Grantee Separates from Service prior to December 30, 2020 on account of death or Disability, the Service Condition shall be waived.   For fiscal years completed prior to any such Separation from Service, Grantee shall become vested in any Stock Units that became Earned Units based on the achievement of the annual Performance Goal applicable to such fiscal year (as certified by the Committee).  For fiscal years not completed prior to any such Separation from Service, the annual Performance Goal shall be deemed to have been achieved and Grantee shall become vested in such number of Stock Units that were eligible to become Earned Units for such fiscal year pursuant to Section 3(a) of this Agreement.  

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EXHIBIT 10.13

(b)    Change in Control - Involuntary Separation.  Notwithstanding anything to the contrary in this Agreement, if Grantee Separates from Service prior to the December 30, 2020 on account of (i) an involuntary termination by the Company without Cause or (ii) a termination by Grantee for “Good Reason” (as defined below), in each case, during the two-year period following a Change in Control, the Service Condition will be waived.  For fiscal years completed prior to the Change in Control, Grantee shall become vested in any Stock Units that became Earned Units based on the achievement of the Performance Goals applicable to such fiscal year (as certified by the Committee).  For fiscal years not completed prior to the Change in Control, the annual Performance Goal shall be deemed to have been achieved and Grantee shall be vested in such number of Stock Units that were eligible to become Earned Units for such fiscal year pursuant to Section 3(a) of this Agreement.
(c)    Involuntary Separation.  Notwithstanding anything to the contrary in this Agreement, if Grantee Separates from Service prior to a Change in Control on account of (i) an involuntary termination by the Company without Cause or (ii) a termination by Grantee for Good Reason, the Service Condition will be waived.  For fiscal years completed prior to any such Separation from Service, Grantee shall become vested in any Stock Units that became Earned Units based on the achievement of the Performance Goals applicable to such fiscal year (as certified by the Committee).  For fiscal years not completed prior to any such Separation from Service, Grantee shall remain entitled to vest in such number of Stock Units that are eligible to become Earned Units for any such fiscal year pursuant to Section 3(a) of this Agreement, subject to the terms of this Agreement, including, without limitation, the attainment of the annual Performance Goal set forth in Section 3(a).
(d)    Good Reason.  For purposes of this Agreement, “Good Reason” means, one or more of the following, without the Grantee’s express written consent:  (i) a material adverse change in the Grantee’s title, position, or responsibilities; (ii) a material reduction in the Grantee’s rate of annual base salary or a material reduction in total benefits (unless, in either case, such reduction applies to all similarly situated employees of the Company); (iii) the assignment of Grantee to a position that requires Grantee to relocate permanently to a site more than fifty (50) miles outside of Indiana, Pennsylvania; or (iv) the assignment to Grantee of any material duties or responsibilities (other than due to a promotion) that are materially inconsistent with the position of President of the Company.  In order for Grantee to resign for Good Reason: the Company must be notified by Grantee in writing within thirty (30) days of the event constituting Good Reason; the event must remain uncorrected by the Company for thirty (30) days following such notice (the “Notice Period”); and if the Company fails to cure the same during the Notice Period, the Grantee must Separate from Service within ten (10) days following expiration of the Notice Period.  
5.Settlement of Units.  Each Stock Unit that becomes a Vested Unit shall be settled in one share of the Company’s Common Stock.  All shares issued to settle Stock Units will be issued or credited to Grantee promptly in calendar year 2021, on a date determined in the Committee’s discretion, but in no event later than March 15, 2021; provided, however, Stock Units that become Vested Units in accordance with the provisions 

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of Section 4 of this Agreement shall be settled within sixty (60) days following the date of Grantee’s Separation from Service. Additionally, notwithstanding the foregoing or any provision of this Agreement to the contrary, in the event the survivor in a Change in Control does not assume this Award (or issue a Replacement Award), this Award shall be settled within ten (10) days following the Change in Control as provided under Section 12.2 of the Plan.
6.Rights of Grantee. Grantee shall have no right to vote or receive dividends or other distributions with respect to shares of Common Stock which may be or become issuable upon settlement of Stock Units unless and until such shares are issued pursuant to Section 5.  
7.Tax Withholding. Grantee shall be required to deposit with the Company an amount of cash equal to the amount determined by the Company to be required with respect to any withholding taxes, FICA contributions, or the like under any federal, state, or local statute, ordinance, rule, or regulation in connection with the vesting or award of the Stock Units.  Alternatively, the Company may, at Grantee’s election, withhold a number of shares otherwise deliverable having a Fair Market Value sufficient to satisfy the statutory minimum of all or part of Grantee’s estimated total federal, state, and local tax obligations associated with the vesting or award of the Stock Units. 
8.Limitation on Rights; No Right to Future Grants; Extraordinary Item.  By entering into this Agreement and accepting the Award, Grantee acknowledges that:  (a) Grantee's participation in the Plan is voluntary; and (b)  the Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Grantee will not be entitled to compensation or damages as a consequence of Grantee's forfeiture of any unvested portion of the Award as a result of Grantee's separation from service with the Company or any Subsidiary for any reason.  
9.General Provisions: 
(a)    This Agreement, together with the Plan, constitutes the entire agreement between the Company and Grantee regarding the grant of the Stock Units. 
(b)    The Committee may modify this Agreement to bring it into compliance with any valid and mandatory government regulation or exchange listing requirement.  This Agreement may also be amended by the Committee with the consent of Grantee.  Any such amendment shall be in writing and signed by the Company and Grantee. 
(c)    Nothing contained in this Agreement shall be deemed to require the Company and its Subsidiaries to continue Grantee’s relationship as an Employee or to modify any agreement between Grantee and the Company or its Subsidiaries relating thereto. 

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EXHIBIT 10.13

(d)    The Committee may from time to time impose any conditions on the Stock Units as it deems reasonably necessary to ensure that the Plan and this Award satisfy the conditions of Rule 16b-3 of the Securities Exchange Act of 1934, as amended, and that the Stock Units and any shares issuable in settlement thereof are issued and resold in compliance with the Securities Act of 1933, as amended. 
(e)    Grantee agrees upon request to execute any further documents or instruments necessary or desirable to carry out the purposes or intent of this Agreement. 
(f)    Grantee hereby acknowledges receipt of a copy of the Plan and the Plan’s prospectus and agrees to be bound by all the terms and provisions thereof. The terms of the Plan as it presently exists, and as it may hereafter be amended, are deemed incorporated herein by reference, and in the event of any conflict between the terms of this Agreement and the provisions of the Plan, the provisions of the Plan shall be deemed to supersede the provisions of this Agreement. 
(g)    This Award of Performance Units is intended to be excepted from coverage under Section 409A pursuant to the short-term deferral exception specified in Treas. Reg. §1.409A-1(b)(4) and shall be administered, interpreted and construed accordingly.  Notwithstanding, Grantee recognizes and acknowledges that Section 409A of the Code may impose upon Grantee certain taxes or interest charges for which the Grantee is and shall remain solely responsible.
(h)    This Agreement shall be governed by, and enforced in accordance with, the laws of the Commonwealth of Pennsylvania without regard to the application of the principals of conflicts or choice of laws. 
(i)    This Agreement may be executed, including execution by facsimile signature, in one or more counterparts, each of which shall be deemed an original, and all of which together shall be deemed to be one and the same instrument. 
[Remainder of page intentionally left blank.]
[Signature page follows.]

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EXHIBIT 10.13

IN WITNESS WHEREOF, the parties have duly executed this Performance Unit Agreement, effective as of the day and year first set forth above.
	
		
	 
	First Commonwealth Financial Corporation

By:   /s/ Matthew C. Tomb         
Name:  Matthew C. Tomb
Title:    Executive Vice President

	 
	

Grantee

/s/ T. Michael Price             
T. Michael Price

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