Document:

EX-10.1

 

Exhibit 10.1

EMPLOYMENT AGREEMENT AMENDMENT 1

     THIS EMPLOYMENT AGREEMENT AMENDMENT 1 (“Amendment”) is made February 26, 2008 between HARRIS
INTERACTIVE INC., a Delaware corporation (“Company”), and LEONARD R. BAYER (“Executive”).

     This Amendment amends the Employment Agreement (“Employment Agreement”)made between Company
and Executive effective as of April 30, 2007. All terms of the Employment Agreement, except as
amended hereby, remain in full force and effect. Capitalized terms not otherwise defined herein
shall have the meanings given to them in the Agreement.

     1. The Company and Executive have mutually agreed to the retirement of Executive effective
March 31, 2008 (the “Retirement Date”). Section 2.1 of the Employment Agreement is hereby deleted
and the Retirement Date shall constitute the “Termination Date” for all purposes of the Employment
Agreement.

     2. Effective on the Retirement Date, the Executive hereby resigns as a member of the Board of
Directors of the Company.

     3. Sections 4.2 through and including 4.9 and Section 4.12 of the Employment Agreement are
hereby deleted; provided, however, Section 4.3 shall remain in effect in the event of the
Executive’s death prior to March 31, 2008.

     4. In connection with the Retirement Date, the Company shall pay Executive:

           (i) the Accrued Base Obligations through the Termination Date, payable within thirty
(30) days after the Termination Date,

           (ii) Accrued Bonus Obligations payable on October 1, 2008,

           (iii) $192,500 payable on October 1, 2008, $27,500 payable on November 1, 2008, $27,500
payable on December 1, 2008, and $495,000 payable on January 2, 2009, and

           (iv) health and medical benefits as required by Section 3.3 of the Employment Agreement
during the Non-Competition Period described in Section 5.2(a); provided, however, if
Executive, Executive’s spouse or Executive’s dependents are ineligible to participate in the
Company benefit programs under Section 3.3, the Company shall arrange to reimburse Executive
for coverage reasonably comparable to that previously provided under Section 3.3, and
further provided that such benefits shall become secondary to primary coverage upon the date
or dates Executive receives coverage and benefits which are substantially similar, taken as
a whole, without waiting period or pre-existing condition limitations, under the plans and
programs of a

 

 

subsequent employer, with any such reimbursement for periods prior to October 1, 2008
to be paid on October 1, 2008 and then monthly thereafter.

     5. Section 5.2(a) of the Employment Agreement is hereby amended to read in its entirety
as follows:

     (a) During the period that Executive is employed by the Company and for a
period of two years after the Termination Date (the “Non-Competition Period”),
Executive shall not, directly or indirectly, own, manage, operate, join, control,
participate in, invest in or otherwise be connected or associated with, in any
manner, including, without limitation, as an officer, director, employee,
distributor, independent contractor, independent representative, partner,
consultant, advisor, agent, proprietor, trustee or investor, any Competing Business
(defined below); provided, however, that ownership of 4.9% or less of the stock or
other securities of a corporation, the stock of which is listed on a national
securities exchange shall not constitute a breach of this Section 5, so long as the
Executive does not in fact have the power to control, or direct the management of,
or is not otherwise engaged in activities with, such corporation.

     IN WITNESS WHEREOF, this Amendment has been executed and delivered as of the date first above
written.

[Signature Page Follows]

HARRIS INTERACTIVE INC.

	 	 	 	 	 
	 	 	 
	 	By:  	                 /s/ Gregory T. Novak
 	 
	 	 	Gregory T. Novak 	 
	 	 	Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	 	 
	 	  	                        /s/ Leonard R. Bayer
 	 
	 	 	LEONARD R. BAYEREX-10.21

 

EXHIBIT 10.21

FIRST FINANCIAL BANCORP.

AMENDED AND RESTATED KEY MANAGEMENT SEVERANCE PLAN

I. Preamble and Statement of Purpose .

     The purpose of this Plan is to assure First Financial Bancorp. (“First Financial”) and its
subsidiaries (First Financial, together with its subsidiaries, the “Corporation”) of the continued
dedication, loyalty, and service of, and the availability of objective advice and counsel from, key
employees of the Corporation notwithstanding the possibility, threat or occurrence of a bid or
other action to take over control of the Corporation.

     In the event First Financial receives any proposals from a third party concerning a possible
business combination with First Financial, or acquisition of First Financial’s equity securities or
a substantial portion of its assets, the Board of Directors of First Financial (the “Board”)
believes that it would be imperative that the Board, the Corporation and its senior management be
able to rely on the Corporation’s key employees to continue in their positions and be available for
advice, if requested, without concern that those individuals might be distracted by the personal
uncertainties and risks created by such a proposal, or be influenced to consider other employment
opportunities or prospects because of such uncertainties or risks.

     Should First Financial receive any such proposals, in addition to their regular duties, such
key employees, in light of their experience and knowledge gained within that portion of the
business in which they are principally engaged, may be called upon to assist in the assessment of
proposals, advise senior management and the Board as to whether such proposals would be in the best
interest of First Financial and its shareholders, and take such other actions as the Board might
determine to be appropriate.

     This Plan amends and supersedes the First Financial Bancorp Key Management Severance Plan that
was first effective on March 23, 2006.

II. Eligible Executives .

     Eligible employees are those key employees of the Corporation who are from time to time
designated by the Chief Executive Officer of First Financial (the “CEO”) as eligible to participate
in this Plan. The CEO shall provide the Compensation Committee of the Board (the “Compensation
Committee”) a list of those individuals designated as eligible as updated from time-to-time.

     Each eligible employee shall become a Participant in the Plan upon his or her execution of a
letter agreement in the form, or substantially in the form, of Exhibit A, attached to and
incorporated in this Plan (the “Letter Agreement”). The executed Letter Agreement shall constitute
the Participant’s agreement to the terms and conditions of participation in this Plan and shall set
forth the amount of the Lump Sum Cash Payment under Section 3.2.2, the length of the Coverage
Period for welfare benefit continuation

 

 

under Section 3.2.3, and such other terms and conditions as the Compensation Committee may
determine applicable to the Participant.

     A Participant who is no longer employed by the Corporation shall cease to be a Participant in
the Plan, unless the Participant’s employment ceases (i) within twelve (12) months after the
Effective Date (as defined in Section 3.1.3) or (ii) during any period of time when the Board has
knowledge that any third person has taken steps reasonably calculated to effect a Change of Control
(as defined in Section 3.1.2) until, in the opinion of the Board, the third party has abandoned or
terminated its efforts to effect a Change of Control. Any decision by the Board that, in its
opinion, a third party has or has not taken steps reasonably calculated to effect a Change of
Control, or that, in its opinion, the third person has abandoned or terminated its efforts to
effect a Change of Control, shall be conclusive and binding on the Participants.

III. Plan Provisions .

     3.1 Definitions. The following terms, as used in this Plan with capitalized first
letters, shall have the meanings as provided in this Section 3.1:

     3.1.1. “Cause”. “Cause” means (i) the Participant’s willful and continued failure
substantially to perform the duties of his or her position (other than as a result of disability,
as defined in Section 72(m)(7) of the Internal Revenue Code of 1986, as amended (the “Code”), or as
a result of termination by the Participant for Good Reason) after written notice to the Participant
by the CEO or his/her designate specifying such failure, provided that such “Cause” shall have been
found by the CEO in consultation with legal counsel after at least ten (10) days’ written notice to
the Participant specifying the failure on the part of the Participant and after an opportunity for
the Participant to be heard at a meeting with the CEO or his/her designate; (ii) any willful act or
omission by the Participant constituting dishonesty, fraud or other malfeasance, and any act or
omission by the Participant constituting immoral conduct, which in any such case is injurious to
the financial condition or business reputation of the Corporation; or (iii) the Participant’s
indictment of a felony under the laws of the United States or any state thereof or any other
jurisdiction in which the Corporation conducts business. For purposes of this definition, no act or
failure to act shall be deemed “willful” unless effected by the Participant not in good faith and
without a reasonable belief that such action or failure to act was in or not opposed to the best
interests of the Corporation.

     3.1.2. “Change of Control”. “Change of Control” means the earliest to occur of any of
the following events, construed in accordance with Code section 409A:

     (i) Any one person or more than one person acting as a group acquires, or has acquired during
the twelve (12) month period ending on the date of the most recent acquisition by such person or
group, beneficial ownership of more than fifty percent (50%) of the total voting power of First
Financial’s then outstanding voting securities;

     (ii) A majority of the members of the Board is replaced during any twelve (12) month period by
directors whose appointment or election is not endorsed or

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approved by a majority of the members of the Board who were members of the Board prior to the initiation of the
replacement; or

     (iii) Any one person or more than one person acting as a group acquires, or has acquired
during the twelve (12) month period ending on the date of the most recent acquisition by such
person or group, assets of First Financial that have a total gross fair market value of fifty
percent (50%) or more of the total gross fair market value of all of the assets of First Financial
immediately prior to the initiation of the acquisition.

     3.1.3. “Effective Date”. “Effective Date” means the date on which a Change of Control
occurs. In the event of a Change of Control occurring within twelve (12) months after a prior
Change of Control, “Effective Date” shall mean, for a Participant whose employment terminates prior
to the subsequent Change of Control, the date on which the prior Change of Control occurs, and for
all other Participants, the date on which the subsequent Change of Control occurs. Notwithstanding
anything in this Plan to the contrary, if a Participant’s employment with the Corporation had
terminated prior to the date on which the Change of Control occurred, and if it is reasonably
demonstrated by the Participant to the Board that such termination of employment either was at the
request of a third party who had taken steps reasonably calculated to effect the Change of Control
or otherwise arose in connection with or in anticipation of the Change of Control, then, for all
purposes of this Plan, “Effective Date” shall mean, with respect to such Participant only, the date
immediately prior to the date of such termination of employment.

     3.1.4. “Good Reason”. “Good Reason” means, without the Participant’s consent, (i)
removal from, or failure to be reappointed or reelected to, the Participant’s principal positions
immediately prior to the Change of Control (other than as a result of a promotion); (ii) a material
diminution in the Participant’s title, position, duties or responsibilities, or the assignment to
the Participant of duties that are inconsistent, in a material respect, with the scope of duties
and responsibilities associated with the Participant’s position immediately prior to the Change of
Control; (iii) a material reduction in the Participant’s base compensation, as in effect
immediately preceding the Effective Date, or target bonus opportunity; (iv) relocation of the
Participant’s principal workplace to a location which is more than fifty (50) miles from the
Participant’s principal workplace on the Effective Date; or (v) any material failure by First
Financial to comply with and satisfy the requirements of Section 3.5.6, provided that the successor
shall have received at least ten (10) days’ prior written notice from First Financial or the
Participant of the requirements of Section 3.5.6, and shall have failed to remedy such material
failure within thirty (30) days after receipt of such notice. For purposes of clauses (i), (ii) or
(iii) of the preceding sentence, an isolated and inadvertent action not taken in bad faith and
which is remedied by First Financial promptly after receipt of notice thereof given by the
Participant shall be excluded. For purposes of clause (ii), no material diminution of title,
position, duties or responsibilities shall be deemed to occur solely because First Financial
becomes a subsidiary of another corporation or change in the reporting hierarchy incident thereto.
For the purposes of clauses (i), (ii), (iii), and (iv), Good Reason shall not exist unless the
Participant notifies the Corporation of the existence of the condition specified under the
applicable clause no later than ninety (90) days after the initial existence of any such condition,
and the Corporation fails to

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remedy such condition within thirty (30) days after receipt of such notice. Notwithstanding the
foregoing, Good Reason shall not exist unless the termination of employment from the Corporation
occurs no later than one year following the initial existence of any of the conditions provided
under this Section 3.1.4.

3.2 Benefits.

     3.2.1. Triggering Event. In the event the Participant’s employment with the
Corporation is terminated without Cause by the Corporation, or for Good Reason by the Participant,
on or within twelve (12) months after the Effective Date, First Financial shall (in addition to any
compensation or benefits to which the Participant may otherwise be entitled under any other
agreement, plan or arrangement with the Corporation, other than amounts excluded by Section 3.5.2)
make the payments and provide the benefits to the Participant as specified under Sections 3.2.2
through 3.2.6, subject to Section 3.4 and 3.5.2. Solely for purposes of this Section 3.2.1, a
Participant’s employment with the Corporation will be deemed to have terminated on the earlier of
the date the Participant’s employment with the Corporation ceases or the date that written notice
of any such termination is received by the Participant or by the Corporation, as the case may be,
even though the parties may agree in connection therewith that the Participant’s employment with
the Corporation will continue for a specified period thereafter. The failure by the Participant or
the Corporation to set forth in any such notice sufficient facts or circumstances showing Good
Reason or Cause, as the case may be, shall not waive any right of the Participant or the
Corporation or preclude either party from asserting such facts or circumstances in the enforcement
of any such right.

     3.2.2. Lump Sum Cash Payment. On or within 30 days after the Participant’s termination
of employment from the Corporation, First Financial shall pay to the Participant as compensation
for services rendered to the Corporation a Lump Sum Cash Payment (subject to any applicable payroll
or other taxes required to be withheld) equal to the sum of (a) six (6) to twelve (12) months (such
period to be determined by the CEO) of the Participant’s then current annual base salary; and (b)
accrued but unused vacation allotment for the current year, such amount determined in accordance
with the Letter Agreement.

     3.2.3. COBRA Coverage. The Participant may elect to continue the Participant’s (and,
where applicable, the Participant’s dependents’) health benefits pursuant to COBRA. If the
Participant elects to do so, the Corporation will pay the portion of the COBRA premiums which it
paid for the Participant’s insurance premiums which it did while Participant was an employee of the
Corporation for up to twelve (12) months, and the Participant’s portion will be deducted from the
Lump Sum Cash Benefit.

     3.2.4. Accelerated Vesting of Stock Awards. If Participant’s employment is terminated
within twelve (12) months of the Effective Date of a Change of Control as defined in Section 3.1.2,
any unvested stock options and restricted stock will vest subject to the terms of the applicable
stock benefit plan. The preceding sentence shall not apply with respect to any stock award if: (i)
in connection with the Change of Control, another

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entity (a) shall have assumed or will assume the obligations of First Financial with respect
to such stock award, or (b) shall have issued or will issue one or more stock awards of equivalent
economic value with equivalent vesting conditions to replace such stock award; and (ii) the assumed
or replacement option as set forth in clause (i), pursuant to its terms, shall vest as of the date
the Participant’s employment with the Corporation is terminated without Cause by the Corporation,
or for Good Reason by the Participant, on or within eighteen (18) months after the Effective Date.
The Board shall have sole discretion in the determination of whether a replacement option is of
equivalent economic value to the replaced option.

     3.2.5. Outplacement Assistance. Participant shall be entitled to outplacement
assistance with an agency selected by First Financial with the fee paid by First Financial in an
amount not to exceed two (2) to five (5) percent of the Participant’s annual base salary as
determined by the CEO, such amount determined in accordance with the Letter Agreement.

     3.2.6. Target Bonus Payment. Participant shall be entitled to his/her target bonus
(“Target Bonus”) as defined in the Short Term Bonus Plan for the year of the Effective Date. The
Target Bonus will be paid on the date when annual bonuses for other key management employees are
normally paid. In no event shall the Target Bonus be paid later than March 15 in the year
following the Effective Date.

3.3 Adjustment of Lump Sum Cash Payment.

     3.3.1. Adjustment. Notwithstanding anything in this Plan or any Letter Agreement to
the contrary, in the event the Law or Accounting Firm (as defined in Section 3.3.2) shall determine
that the Lump Sum Cash Payment and any other payment or distribution in the nature of compensation
by the Corporation to or for the benefit of the Participant, whether paid or payable or distributed
or distributable pursuant to the terms of this Plan or otherwise (the Lump Sum Cash Payment,
together with such other payments and distributions, the “Payments”), would cause any portion of
such Payments to be subject to the excise tax imposed by Section 4999 (or any successor provision)
of the Code (the “Parachute Payments”), the Participant’s Lump Sum Cash Payment shall be reduced to
the extent necessary (but not below zero) so that no portion of the Payments shall be subject to
the excise tax imposed by Section 4999 of the Code, provided that no such reduction shall be made
if the Participant’s Payments, after the reduction and after the application of Federal income tax
at the highest rate applicable to individual taxpayers, would not be greater than the present value
(determined in accordance with Section 280G of the Code) of the Payments before the reduction but
after the application of (i) excise tax under Section 4999 of the Code and (ii) Federal income tax
at the highest rate applicable to individual taxpayers.

     3.3.2. Determination. All determinations required to be made under this Section 3.3,
including the assumptions to be utilized in arriving at such determination, shall be made by a
nationally recognized law or accounting firm (the “Law or Accounting Firm”), which shall provide
detailed supporting calculations both to First Financial and the

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the Participant (i) within fifteen (15) business days after the receipt of a notice from the
Participant that he or she may have a Parachute Payment, or (ii) at such earlier time as may be
requested by First Financial. The Law or Accounting Firm may employ and rely upon the opinions of
actuarial or accounting professionals to the extent it deems necessary or advisable. In the event
that the Law or Accounting Firm determines, for any reason, that it is unable to perform such
services, or declines to do so, First Financial shall select another nationally recognized law or
accounting firm to make the determinations required under this Section (which law or accounting
firm shall then be referred to as the Law or Accounting Firm hereunder). All fees and expenses of
the Law or Accounting Firm shall be borne solely by First Financial. Any determination by the Law
or Accounting Firm shall be binding upon First Financial and the Participant.

3.4 Terms and Conditions of Participation 

     3.4.1. Conditions of Participation. As a condition to being covered by the Plan, each
Participant, by executing the Letter Agreement, shall acknowledge and agree that (i) except as may
otherwise be expressly provided under any other executed agreement between the Participant and the
Corporation, nothing contained in this Plan (including, but not limited to, using the term “Cause”
to determine benefits under this Plan) is intended to change the fact that the employment of the
Participant by the Corporation is “at will” and, prior to the Effective Date, may be terminated by
either the Participant or the Corporation at any time, (ii) the Participant shall be bound by, and
comply with, the requirements of Sections 3.5.3 and 3.5.4, and (iii) the Participant consents to
the modifications to the options as provided in Section 3.2.4. Moreover, except as provided in
Section 3.1.3, if prior to the Effective Date, the Participant’s employment with the Corporation
terminates, then the Participant shall have no further rights under this Plan.

     3.4.2. Non-Duplication. As a condition to being covered by this Plan, and
notwithstanding any other prior agreement to the contrary, each Participant, by executing the
Letter Agreement, shall agree that the payments under this Plan shall be in lieu of any severance
or similar payments that otherwise might be payable under any plan, program, policy or agreement.

     3.4.3. Amendment and Termination. The Plan may not be amended or terminated after the
Effective Date. Prior to the Effective Date, the Compensation Committee of the Board (the
“Compensation Committee”) may, in its sole discretion, modify or amend this Plan in any respect, or
terminate the Plan (including with respect to individuals then participating in the Plan), provided
such action is taken and becomes effective at least one (1) year prior to the Effective Date and
such action is communicated to the Participants prior to the Effective Date. First Financial may
amend the Plan to provide greater or lesser benefits to particular employees by sending the
affected employees a letter setting forth the applicable benefit modification. Notwithstanding the
foregoing provisions of this Section 3.4.3, the Plan may be amended by the Compensation Committee
at any time, retroactively if required, if found necessary, in the opinion of the Compensation
Committee, in order to conform the Plan to the provisions of section 409A of the Code and the
Treasury Regulations or other authoritative guidance issued

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thereunder and to conform the Plan to the provisions and other requirements of any applicable
law. No such amendment shall be considered prejudicial to any interest of a Participant under the
Plan or require the Participant’s written consent. The Corporation shall promptly notify affected
Participants of any such amendment adopted by the Compensation Committee.

3.5 General

     3.5.1. Indemnification. If litigation or arbitration shall be brought to enforce or
interpret any provision of this Plan which relates to First Financial’s obligation to make payments
hereunder, then First Financial, to the extent permitted by applicable law and First Financial’s
Articles of Incorporation, shall indemnify the Participant for his or her reasonable attorneys’
fees and disbursements incurred in such proceedings, and shall pay pre-judgment interest on any
money judgment obtained by the Participant calculated at the prime rate of interest published from
time to time by The Wall Street Journal , northeast edition (“Prime Rate”) from the date that
payment(s) to him or her should have been made under this Plan.

     3.5.2. Payment Obligations; Overdue Payments . The Corporation’s obligations to make
the payments and provide the benefits to the Participant under this Plan shall be absolute and
unconditional and shall not be affected in any way by any circumstances, including, without
limitation, any offset, counterclaim, recoupment, defense or other right which First Financial may
have against the Participant or anyone else, provided, however, that as a condition
to payment of amounts under this Plan, the Participant shall execute by no later than the scheduled
payment date a general release and waiver (the “Waiver”), in form and substance reasonably
satisfactory to First Financial, of all claims relating to the Participant’s employment by the
Corporation and the termination of such employment, including, but not limited to, discrimination
claims, employment-related tort claims, contract claims and claims under this Plan (other than
claims with respect to benefits under the Corporation’s tax-qualified retirement plans,
continuation of coverage or benefits solely as required by Part 6 of Title I of the Employee
Retirement Income Security Act of 1974, or any obligation of First Financial to provide future
performance under Section 3.2.3). All amounts payable by First Financial hereunder shall be paid
without notice or demand, except as may be required with respect to the Waiver. Each and every
payment made hereunder by First Financial shall be final. The Corporation shall not seek to recover
all or any part of such payment from the Participant or from whosoever may be entitled thereto, for
any reason whatsoever. The Participant shall not be obligated to seek other employment in
mitigation of the amounts payable or arrangements made under any provision of this Plan, and the
obtaining of any such other employment shall in no event effect any reduction of First Financial’s
obligations to pay the Lump Sum Cash Payment. The Participant shall be entitled to receive interest
at the Prime Rate on any payments under this Plan that are overdue, provided,
however, that no payments shall be deemed to be overdue until the Participant executes the
Waiver and any rescission period with respect to such Waiver has expired or to the extent that
payments are delayed pursuant to the requirements of Section 409A of the Code.

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     3.5.3. Confidential Information. The Participant shall at all times hold in a
fiduciary capacity for the benefit of the Corporation all secret, confidential or proprietary
information, knowledge or data relating to the Corporation, and its respective businesses, which
shall have been obtained by the Participant during the Participant’s employment by the Corporation
and which shall not be or become public knowledge (other than by acts by the Participant or
representatives of the Participant in violation of this Plan) including, but not limited to, the
following: (i) performance characteristics of the Corporation’s products; (ii) marketing plans,
business plans, strategies, forecasts, budgets, projections and costs; (iii) personnel information;
(iv) customer, vendor and supplier lists; (v) customer, vendor and supplier needs, transaction
histories, contacts, volumes, characteristics, agreements and prices; (vi) promotions, operations,
sales, marketing, and research and development; (vii) business operations, internal structures, and
financial affairs; (viii) systems and procedures; (ix) pricing structure of the Corporation’s
services and products; (x) proposed services and products; (xi) contracts with other parties; and
(xii) any other information that the Corporation is obligated by law, rule or regulation to
maintain as confidential (the “Confidential Information”). During the Participant’s employment with
the Corporation and after termination of such employment at any time or for any reason, and
regardless of whether any payments are made to the Participant under this Plan as a result of such
termination, the Participant shall not, without the prior written consent of the Corporation or as
may otherwise be required by law or legal process, communicate or divulge any Confidential
Information to any person other than the Corporation, its employees and those designated by it or
use any Confidential Information except for the benefit of the Corporation. Immediately upon
termination of the Participant’s employment with the Corporation at any time or for any reason, the
Participant shall return to the Corporation all Confidential Information, including, but not
limited to, any and all copies, reproductions, notes or extracts of Confidential Information.
“Confidential Information” shall not include (v) Confidential Information which at the time of
disclosure is already in the public domain; (w) Confidential Information which the Participant can
demonstrate by written evidence was in his possession or known to him prior to his employment with
the Corporation which is not subject to an obligation of confidentiality to the Corporation; (x)
Confidential Information which subsequently becomes part of the public domain through no fault of
the Participant; (y) Confidential Information which becomes known to the Participant through a
third party who is under no obligation of confidentiality to the Corporation; and (z) Confidential
Information which is required to be disclosed by law or by judicial administrative proceedings.
Upon service to the Participant, or anyone acting on the Participant’s behalf, of any subpoena,
court order, or other legal process requiring the Participant to disclose information that would be
Confidential Information but for the preceding sentence, the Participant shall immediately provide
written notice to the Corporation of such service and of the content of any testimony or
information to be disclosed.

     3.5.4. Solicitation of Employees and Customers. (a) During the Participant’s
employment with the Corporation and for a period of six (6) to twelve (12) months after termination
of such employment at any time and for any reason, and regardless of whether any payments are made
to the Participant under this Plan as a result of such

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termination, the Participant shall not solicit, participate in or promote the solicitation of
any person who was employed by the Corporation at the time of the Participant’s termination of
employment with the Corporation to leave the employ of the Corporation, or, on behalf of himself or
any other person, hire, employ or engage any such person. The Participant further agrees that,
during such time, if an employee of the Corporation contacts the Participant about prospective
employment, the Participant will inform such employee that he or she cannot discuss the matter
further without informing the Corporation.

     (b) During the Participant’s employment with the Corporation, and for a period of six (6) to
twelve 12) months after termination of such employment and at any time and for any reason, and
regardless of whether any payments are made to the Participant under this Plan as a result of such
termination, the Participant will not, directly or indirectly, on behalf of himself or herself or
on behalf of any other individual, association or entity, as an agent or otherwise:

	 	(i)	 	contact any of the customers of Corporation for whom the Participant directly
performed any services or had any direct business contact for the purpose of
soliciting business or inducing such customer to acquire any product or service that
currently is provided or under development by the Corporation; or
	 
	 	(ii)	 	contact any of the customers or prospective customers of the Corporation
whose identity or other customer specific information the Participant discovered or
gained access to as a result of his/her access to the Confidential Information for the
purpose of soliciting or inducing any of such customers or prospective customers to
acquire any product or service that currently is provided or under development by the
Corporation; or
	 
	 	(iii)	 	utilize the Confidential Information to solicit, influence, or encourage any
customers or prospective customers of the Corporation to divert or direct their
business to me or any other person, association or entity by or with whom the
Participant is employed, associated, engaged as agent or otherwise affiliated.

     (c) The six (6) to twelve (12) month period described in Sections 3.5.4(a) and (b) above
shall correlate with the number of months set forth pursuant to Section 3.2.2(a).

     3.5.5. Application of Restrictions Respecting Confidential Information and Solicitation of
Employees. The requirements and obligations of the Participant under Sections 3.5.3 and 3.5.4
shall be in addition to, and not a limitation under, any other requirements and obligations of the
Participant, at law or otherwise. The term “person” for purposes of Sections 3.5.3 and 3.5.4 shall
include any individual or entity, including any corporation, trust or partnership.

     3.5.6. Successors. All right under this Plan are personal to the Participant and
without the prior written consent of First Financial shall not be assignable by the

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Participant otherwise than by will or the laws of descent and distribution. This Plan shall
inure to the benefit of and be enforceable by the Participant’s legal representative. This Plan
shall inure to the benefit of and be binding upon First Financial and its successors and assigns.
First Financial 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 First
Financial to assume expressly and agree to perform this Plan in the same manner and to the same
extent that First Financial would be required to perform it.

     3.5.7. Controlling Law; Jurisdiction. This Plan shall in all respects be governed by,
and construed in accordance with, the laws of the State of Ohio (without regard to the principles
of conflicts of laws). The Corporation and the Participants irrevocably consent and submit to the
jurisdiction of the Common Please Court for the county in the State of Oho in which the
Corporation’s principal place of business is located, or in any Federal court sitting in the State
of Ohio, for the purposes of any controversy, claim, dispute or action arising out of or related to
this Plan, and hereby waive any defense of an inconvenient forum and any right of jurisdiction on
account of the parties’ place of residence or domicile.

     3.5.8. Severability. Any provision in this Plan which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective only to the extent of such
prohibition or unenforceability without invalidating or affecting the remaining provisions hereof,
and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

     3.5.9. 409A Compliance.

     (i) This Plan is intended to comply with, or otherwise be exempt from, Section 409A of the
Code and any regulations and Treasury guidance promulgated thereunder.

     (ii) The Corporation and Participant agree that they will execute any and all amendments to
this Plan as they mutually agree in good faith may be necessary to ensure compliance with the
provisions of Section 409A of the Code.

     (iii) The preceding provisions, however, shall not be construed as a guarantee by the
Corporation of any particular tax effect to Participant under this Plan. The Corporation shall not
be liable to Participant for any payment made under this Plan, at the direction or with the consent
of Participant, which is determined to result in an additional tax, penalty, or interest under
Section 409A of the Code, nor for reporting in good faith any payment made under this Plan as an
amount includible in gross income under Section 409A of the Code.

     (iv) For purposes of Section 409A of the Code, the right to a series of installment payments
under this Plan shall be treated as a right to a series of separate payments.

     (v) With respect to any reimbursement of expenses of, or any provision of in-kind benefits to,
Participant, as specified under this Plan, such reimbursement of expenses or provision of in-kind
benefits shall be subject to the following conditions: (1) the expenses eligible for reimbursement
or the amount of in-kind benefits provided in one taxable year shall not affect the expenses
eligible for reimbursement or the amount of in-kind benefits

10

 

provided in any other taxable year,
except for any medical reimbursement arrangement providing for the reimbursement of expenses referred
to in Section 105(b) of the Code; (2) the
reimbursement of an eligible expense shall be made no later than the end of the year after the year
in which such expense was incurred; and (3) the right to reimbursement or in-kind benefits shall
not be subject to liquidation or exchange for another benefit.

     (vi) For purposes of Section 409A of the Code, the date as of which the Corporation and the
Participant reasonably anticipate that no further services would be performed by the Participant
shall be construed as the date that the Participant first incurs a “separation from service” as
defined under Section 409A of the Code.

     (vii) If a payment obligation under this Plan arises on account of Participant’s termination
of employment while he is a “specified employee” (as defined under Section 409A of the Code and
determined in good faith by the Compensation Committee), any payment of “deferred compensation” (as
defined under Treasury Regulation Section 1.409A-1(b)(1), after giving effect to the exemptions in
Treasury Regulation Sections 1.409A-1(b)(3) through (b)(12)) shall accrue at the Prime Rate of
interest and shall be made within 15 days after the end of the six-month period beginning on the
date of such termination of employment or, if earlier, within 15 days after appointment of the
personal representative or executor of Participant’s estate following his death.

Date: February 26, 2008

11

 

EXHIBIT A

AMENDED AND RESTATED KEY MANAGEMENT SEVERANCE PLAN 

[DATE]

[name]

[address]

Dear ______________:

     [ For new Participants: ] You are eligible to participate in the Amended and Restated First
Financial Bancorp Key Management Severance Plan (“Amended and Restated KMSP”) and will become a
Participant therein upon signing this letter agreement. As used in this letter agreement, each
capitalized term, if not defined herein, has the meaning ascribed to it under the Amended and
Restated KMSP.

     [ For existing Participants: ]You were a Participant in the First Financial Bancorp. Key
Management Severance Plan (“KMSP”). This letter is being provided to you in accordance with
section 10 of the KMSP. On [ ____________], 2008, the Corporation amended and
restated the Key Executive Severance Plan (as amended and restated, the “Amended and Restated
KMSP”), enclosed, in order to conform the KMSP to changes made under the Internal Revenue Code of
1986, as amended, and to incorporate other revisions to the KMSP that the Compensation Committee of
the Board of Directors determined to be desirable and in the best interests of the Corporation.
The KMSP has been amended and restated to provide for certain benefits only in the event of a
change in control not as previously provided for termination for other than “cause”, as such was
defined in the KMSP. Your participation in the Amended and Restated KMSP is conditioned upon your
signing this letter agreement, and your signing of this letter agreement will signify your consent
to the amendments made to the KMSP. As used in this letter agreement, each capitalized term, if not
defined herein, has the meaning ascribed to it under the Amended and Restated KMSP.

     [For all Participants:] For purposes of Section 3.2.2 of the Amended and Restated KMSP, the
amount of the Lump Sum Cash Payment, in the event you become entitled to benefits under the Amended
and Restated KMSP, will be equal to the sum of (i) [xx] times your actual annual rate of base
salary as in effect immediately prior to either the date of your separation from service with the
Corporation, as determined under Section 3.2.1, or the Effective Date, whichever is higher, and
(ii) accrued but unused vacation allotment for the current year. With respect to any Target Bonus,
such amount will be paid out in accordance with the Plan. In addition you will be eligible for
outplacement assistance with an agency selected by First Financial with the fee paid by First
Financial in an amount not to exceed [xx] times your annual base salary

     For purposes of the Amended and Restated KMSP, your base salary will include (i) your cash
allowances reportable as wages in Form W-2, and (ii) the dollar value of

 

 

any compensation that
would have been paid to you but was deferred or excluded for Federal income tax purposes under a
deferred compensation plan, program or
arrangement, including amounts deferred under the Corporation’s 401(k) retirement savings
plan.

     For purposes of Section 3.2.3, the Coverage Period, in the event you become entitled to
benefits under the Amended and Restated KMSP, will begin on the date immediately following your
separation from service with the Corporation and shall end on the date [six (6) / twelve (12)]
months thereafter.

     Please review the provisions of the Amended and Restated KMSP and its stated purposes
carefully, including particularly the terms and conditions stated in Sections 3.4 (Terms and
Conditions of Participation), 3.5.3 (Confidential Information), and 3.5.4 (Solicitation of
Employees and Customers), to which you will agree by executing this letter agreement. In order to
be entitled to the benefits and agree to your obligations provided in the Amended and Restated
KMSP, please execute the enclosed copy of this letter and return it to _______________, whereupon
the Amended and Restated KMSP and this letter will become a legally binding agreement between you
and First Financial.

	 	 	 	 	 
	 	Very Truly Yours,

FIRST FINANCIAL BANCORP.

 	 
	 	By:  	 	 

	 	 	 	 	 
	I hereby confirm my agreement with the forgoing:

 	 	 
	
 	 	 
	Date:

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