Document:

<PAGE>

                                                                    EXHIBIT 10.4

                                 FIRST AMENDMENT
                                       OF
                           FIRST FINANCIAL CORPORATION
                          2001 LONG-TERM INCENTIVE PLAN

     WHEREAS, First Financial Corporation (the "Corporation") maintains the
First Financial Corporation 2001 Long-Term Incentive Plan (the "LTIP"), which
was effective January 1, 2001; and

     WHEREAS, the Corporation has reserved the right to amend the LTIP pursuant
to Subsection 18(a) of the LTIP, and now desires to amend the LTIP;

     NOW, THEREFORE, pursuant to Subsection 18(a) of the LTIP, the LTIP is
hereby amended, effective as of January 1, 2001, in the following particulars:

     1.   By replacing Subsection 2(f)(2) of the LTIP with the following:

               "(2) ACQUISITION OF SIGNIFICANT SHARE OWNERSHIP. Any 'person'
          including a 'group', who as of the Effective Date of this Plan owns
          less than 20% of the combined voting power of the outstanding equity
          securities of the Company, is or becomes the 'beneficial owner,'
          directly or indirectly, of equity securities of the Company
          representing 20% or more of the combined voting power of the
          outstanding equity securities of the Company (with the terms in
          quotation marks having the meaning set forth in the federal securities
          laws);"

     2.   By replacing Subsection 2(f)(3) of the LTIP with the following:

               "(3) CHANGE IN BOARD COMPOSITION. During any period of two
          consecutive years, individuals who constitute the Company's Board of
          Directors at the beginning of the two year period cease for any reason
          to constitute at least a majority thereof; provided, however, that -
          for purposes of this Subsection 2(f)(3) - each director who, by a vote
          of at least two-thirds (2/3) of the directors who were directors at
          the beginning of the period, is first (i) nominated by the Company's
          Board of Directors for election by stockholders, or (ii) elected to
          fill a vacancy on the Company's Board of Directors, shall be deemed to
          have been a director at the beginning of the two-year period."

     3.   By replacing Subsection 2(f)(4) of the LTIP with the following:

               "The Company (i) transfers substantially all of its assets to
          another corporation or business entity which is not a wholly owned
          subsidiary of the Company, or (ii) sells substantially all of the
          assets of a subsidiary or affiliate which constitutes 20% or more of
          the assets of the Company and is a subsidiary or affiliate as of the
          effective date of this Plan."

<PAGE>

     4.   By inserting the words "or its successor" after the phrase
          "Participant as a director of the Company" where the phrase appears in
          Subsection 2(j)(1) of the LTIP.

     IN WITNESS WHEREOF, the employer has caused this amendment to be executed
on its behalf by its duly authorized officer this __________ day of
_______________, 2002, but effective as of January 1, 2002.

                                        FIRST FINANCIAL CORPORATION

                                        By:
                                            ------------------------------------
                                        Its:
                                             -----------------------------------

ATTEST:

By:
    ---------------------------------
Its:
     --------------------------------

                                        2<PAGE>

                                                                    EXHIBIT 10.5

                                SECOND AMENDMENT
                                       TO
                           FIRST FINANCIAL CORPORATION
                          2001 LONG-TERM INCENTIVE PLAN
                           (Effective January 1, 2001)

     WHEREAS, First Financial Corporation (the "Employer") maintains the First
Financial Executives' Deferred Compensation Plan (Effective January 1, 2001)
(the "LTIP"); and

     WHEREAS, the Employer has determined that the LTIP should be amended to
freeze participation in the LTIP and to freeze benefit accruals under the LTIP
as of December 31, 2004; and

     WHEREAS, the Board of Directors of the Employer has authorized such
amendments to the LTIP as set forth below;

     NOW, THEREFORE, pursuant to the power reserved to the Board of Directors
under Article VII of the LTIP, the LTIP is hereby amended, effective December
31, 2004, as follows:

                                  "SUPPLEMENT A
                               FREEZE OF THE PLAN

          A-1 Application. The purpose of this Supplement is to freeze the Plan
     effective December 31, 2004. The provisions of this Supplement supersede
     the provisions of the Plan to the extent necessary to eliminate any
     inconsistency between the Plan and this Supplement.

          A-2 Freeze Effective Date. Notwithstanding any provision of the Plan
     to the contrary, the Plan will be "frozen" effective December 31, 2004 (the
     "Freeze Date") in accordance with the provisions of the Plan as modified by
     this Supplement.

          A-3 Cessation of Benefit Accrual. A Participant's benefit under the
     Plan will be limited to his accrued benefit as of the Freeze Date, which
     will equal the Participant's vested Account balance as of December 31,
     2004. Participants will not accrue any additional benefits after the Freeze
     Date. Investment credits earned after the Freeze Date shall continue to be
     allocated to Participant Accounts under the Plan.

          A-4 Continued Participation. All individuals who are Participants on
     the Freeze Date will continue as Participants with respect to their vested
     Accounts under the Plan until the balances in those Accounts are
     distributed to them or to their beneficiaries as

<PAGE>

     provided under the terms of the Plan. No other individual will become a
     Participant after the Freeze Date.

          A-5 Distribution of Benefits. No distribution of benefits will be made
     to or for the benefit of Participants solely as a result of the freeze of
     the Plan. Benefits will be paid at the time and in the manner provided for
     under the terms of the Plan."

     The Plan shall remain the same in all other respects.

     IN WITNESS WHEREOF, First Financial Corporation has caused this amendment
to be executed on its behalf by its duly authorized officers this _____ day of
December, 2005, but effective as of December 31, 2004.

                                        FIRST FINANCIAL CORPORATION

                                        By:
                                            ------------------------------------
                                            Norman L. Lowery, Chief Executive
                                            Officer

ATTEST:

-------------------------------------
Michael A. Carty,
Chief Financial Officer<PAGE>

                                                                    EXHIBIT 10.7

                                 FIRST FINANCIAL

                    EXECUTIVES' SUPPLEMENTAL RETIREMENT PLAN

                         EFFECTIVE DATE: JANUARY 1, 1997

<PAGE>

                                 FIRST FINANCIAL
                    EXECUTIVES' SUPPLEMENTAL RETIREMENT PLAN

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
ARTICLE                                                                     PAGE
-------                                                                     ----
<S>                                                                         <C>
      INTRODUCTION.......................................................     1

I.    DEFINITIONS........................................................     1
      1.1  Board.........................................................     1
      1.2  Code..........................................................     1
      1.3  Committee.....................................................     1
      1.4  Company.......................................................     1
      1.5  Compensation..................................................     1
      1.6  Disability....................................................     1
      1.7  Effective Date................................................     1
      1.8  Employee......................................................     1
      1.9  Employer......................................................     1
      1.10 Participant...................................................     2
      1.11 Plan..........................................................     2
      1.12 Plan Year.....................................................     2

II.   ELIGIBILITY AND PARTICIPATION......................................     2

III.  CONTRIBUTIONS AND ALLOCATIONS......................................     2
      3.1  Supplemental Benefit..........................................     2
      3.2  Amount of Benefit.............................................     2

IV.   INVESTMENT OF CONTRIBUTIONS........................................     2
      4.1  Investments...................................................     2
      4.2  Unsecured Contractual Rights..................................     3

V.    DISTRIBUTIONS......................................................     3
      5.1  Distribution of Benefits......................................     3
      5.2  Designation of Beneficiaries..................................     3
</TABLE>

                                       -i-

<PAGE>

<TABLE>
<S>                                                                         <C>
VI.   PLAN ADMINISTRATION................................................     3
      6.1  Administration by the Committee...............................     3
      6.2  Powers and Responsibilities of the Committee..................     4
      6.3  Liabilities...................................................     4
      6.4  Claims Procedure..............................................     4
      6.5  Income and Employment Tax Withholding.........................     6

VII.  AMENDMENT AND TERMINATION OF THE PLAN..............................     6
      7.1  Amendment of the Plan.........................................     6
      7.2  Termination of the Plan.......................................     6

VIII. MISCELLANEOUS......................................................     6
      8.1  Governing Law.................................................     6
      8.2  Headings and Gender...........................................     6
      8.3  Participant's Rights; Acquittance.............................     6
      8.4  Spendthrift Clause............................................     6
      8.5  Counterparts..................................................     6
      8.6  No Enlargement of Employment Rights...........................     6
      8.7  Limitations on Liability......................................     7
      8.8  Incapacity for Participant or Beneficiary.....................     7
      8.9  Corporate Successors..........................................     7
      8.10 Evidence......................................................     7
      8.11 Action by Employers...........................................     7
      8.12 Severability..................................................     7

      SIGNATURES.........................................................     8
</TABLE>

                                      -ii-

<PAGE>

                                  INTRODUCTION

     The purpose of this Plan is to permit a select group of management or
highly compensated Employees to elect to defer compensation from the Employers
without regard to the limitations imposed by the Code on the benefits which may
accrue to those Employees under the Employers' tax-qualified retirement plans
and to provide supplemental retirement benefits to help recompense the Employees
for benefits lost due to the imposition of Code limitations on tax-qualified
retirement benefits. It is the intention of the Employers that the Plan shall
constitute an unfunded arrangement maintained for the purpose of providing
deferred compensation for a select group of management or highly compensated
employees for federal income tax purposes and for purposes of Title I of the
Employee Retirement Income Security Act of 1974, as amended.

                                    ARTICLE I
                                   DEFINITIONS

     Whenever the initial letter of a word or phrase is capitalized herein, the
following words and phrases shall have the meanings stated below unless a
different meaning is plainly required by the context:

     1.1 "Board" means the Board of Directors of the Company.

     1.2 "Code" means the Internal Revenue Code, as amended.

     1.3 "Committee" means the Compensation Committee of the Company's Board of
Directors.

     1.4 "Company" means First Financial Corporation.

     1.5 "Compensation" means the Participant's total compensation from his
Employer for a calendar year, other than deferred compensation that is currently
includable in gross income, including any salary reduction Employer
contributions made on behalf of the Participant under a plan which qualifies
under Section 401(k) of the Code and/or Section 125 of the Code. Compensation
taken into account under the Plan shall not be limited as provided in Section
401(a)(17) of the Code.

     1.6 "Disabled" or "Disability" means any disability that would qualify as a
disability under Section 22(c)(3) of the Code.

     1.7 "Effective Date" means January 1, 1997.

     1.8 "Employee" means any individual who is employed by an Employer.

     1.9 "Employer" means the Company and any other entity the Company allows to
adopt and become a co-sponsor of the Plan.

                                       -1-

<PAGE>

     1.10 "Participant" means a salaried executive Employee of an Employer who
becomes a Participant pursuant to the provisions of Article II of the Plan.

     1.11 "Plan" means the deferred compensation plan embodied herein, as
amended from time to time, known as the First Financial Executives' Supplemental
Retirement Plan.

     1.12 "Plan Year" means the 12-month period beginning each January 1 and
ending on the following December 31.

                                   ARTICLE II
                          ELIGIBILITY AND PARTICIPATION

     A member of a select group of management or highly compensated Employees is
eligible to become a Participant in the Plan provided the Employee is designated
as a Participant by the Committee in writing. A designated Employee will become
a Participant as of the later of the Effective Date or the date specified by the
Committee. A Participant may be removed as an active Participant by the
Committee effective as of any date, so that he will not be entitled to benefits
under the Plan on or after that date. However, notwithstanding the provisions of
this Article II, Donald Smith shall not be a Participant under the Plan.

                                   ARTICLE III
                          CONTRIBUTIONS AND ALLOCATIONS

     3.1 Supplemental Benefit. A Participant, or, in the event of his death, his
beneficiary, shall be entitled to benefits under the Plan if the Participant's
employment with the Employer terminates and the benefits payable under the
pension plan to the Participant or his beneficiary are reduced because of: (i)
the maximum benefit limitation imposed by Code Section 415 or (ii) the Code
Section 401(a)(17) limitation on the amount of the Participant's compensation
that may be considered for purposes of determining benefits under the Plan.

     3.2 Amount of Benefits. The total amount of benefits payable under this
Plan to a Participant or, in the event of his death, to his beneficiary, shall
equal the difference, if any, between the amount of benefit that would have been
paid under the pension plan if limitations imposed by Code Section 415 and Code
Section 401(a)(17) did not apply, and the amount of benefit which is actually
payable under the pension plan to the Participant or his beneficiary.

                                       -2-

<PAGE>

                                   ARTICLE IV
                           INVESTMENT OF CONTRIBUTIONS

     4.1 Investments. All benefits under the Plan may be invested in a so-called
irrevocable "rabbi" trust established and maintained by the Company to provide
for the benefits created by this Plan. No provision of the Plan shall impose or
be deemed to impose any obligation upon the Employers, other than an unsecured
contractual obligation to make a cash payment to Participants and their
beneficiaries in accordance with the terms of the Plan. Benefits payable under
the Plan shall be paid directly by the Employers from their general assets to
the extent not paid from the rabbi trust established by the Company.

     4.2 Unsecured Contractual Rights. The Plan at all times shall be unfunded
and shall constitute a mere promise by the Employers to make benefit payments in
the future. Notwithstanding any other provision of this Plan, neither a
Participant nor his designated beneficiary shall have any preferred claim on, or
any beneficial ownership interest in, any assets of the Employers prior to the
time benefits are paid as provided in Article V. All rights created under this
Plan shall be mere unsecured contractual rights of the Participant against the
Employers.

                                    ARTICLE V
                                  DISTRIBUTIONS

     5.1 Distribution of Benefits. Any benefits to which a Participant or his
beneficiary becomes entitled to receive under this Plan shall be distributed at
the same time(s) and in the same form(s) as the Participant's or beneficiary's
benefits are distributed under the pension plan. A Participant or beneficiary
who is entitled to receive benefits under the Plan will continue to be entitled
to receive such payments regardless of other employment or self-employment.

     5.2 Designation of Beneficiaries. The Participant may designate a primary
and contingent beneficiary or beneficiaries on forms provided by the Committee,
which for this purpose may include the Participation Agreement. Such designation
may be changed at any time for any reason by the Participant. If the Participant
fails to designate a beneficiary, or if such designation shall for any reason be
illegal or ineffective, or if the designated beneficiary(ies) shall not survive
the Participant, his benefits under the Plan shall be paid: (i) to his surviving
spouse; (ii) if there is no surviving spouse, to the duly appointed and
qualified executor or other personal representative of the Participant to be
distributed in accordance with the Participant's will or applicable intestacy
law; or (iii) in the event that there shall be no such representative duly
appointed and qualified within 45 days after the date of death of the
Participant, then to such persons as, at the date of his death, who would be
entitled to share in the distribution of the Participant's estate under the
provisions of the applicable statutes then in force governing the descent of
intestate property, in the proportions specified in such statute. The Committee
may determine the identity of the distributees, and in so doing may act and rely
upon any information it may deem reliable upon reasonable inquiry, and upon any
affidavit, certificate, or other document believed by it to be genuine, and upon
any evidence believed by it to be sufficient.

                                       -3-

<PAGE>

                                   ARTICLE VI
                               PLAN ADMINISTRATION

     6.1 Administration by the Committee. The Committee shall be responsible for
administering the Plan. Except as the Company shall otherwise expressly
determine, the Committee shall be charged with the full power and the
responsibility for administering the Plan in all its details.

     6.2 Powers and Responsibilities of the Committee.

          (a)  The Committee shall have all powers necessary to administer the
               Plan, including the power to construe and interpret the Plan
               documents; to decide all questions relating to an individual's
               eligibility to participate in the Plan; to determine whether a
               Participant has actually retired; to determine the amount, manner
               and timing of any distribution of benefits or withdrawal under
               the Plan; to resolve any claim for benefits in accordance with
               Section 6.4, and to appoint or employ advisors, including legal
               counsel, to render advice with respect to any of the Committee's
               responsibilities under the Plan. Any construction,
               interpretation, or application of the Plan by the Committee shall
               be final, conclusive and binding. All actions by the Committee
               shall be taken pursuant to uniform standards applied to all
               persons similarly situated.

          (b)  Records and Reports. The Committee shall be responsible for
               maintaining sufficient records to determine each Participant's
               eligibility to participate in the Plan.

          (c)  Rules and Decisions. The Committee may adopt such rules as it
               deems necessary, desirable, or appropriate in the administration
               of the Plan. All rules and decisions of the Committee shall be
               applied uniformly and consistently to all Participants in similar
               circumstances. When making a determination or calculation, the
               Committee shall be entitled to rely upon information furnished by
               a Participant or beneficiary, the Employers or the legal counsel
               of an Employer.

          (d)  Application and Forms for Benefits. The Committee may require a
               Participant or beneficiary to complete and file with it an
               application for a benefit, and to furnish all pertinent
               information requested by it. The Committee may rely upon all such
               information so furnished to it, including the Participant's or
               beneficiary's current mailing address.

     6.3 Liabilities. The Committee shall be indemnified and held harmless by
the Employers with respect to any actual or alleged breach of responsibilities
performed or to be performed hereunder.

                                       -4-

<PAGE>

     6.4 Claims Procedure.

          (a)  Filing a Claim. Any Participant or Beneficiary under the Plan may
               file a written claim for a Plan benefit with the Committee or
               with a person named by the Committee to receive claims under the
               Plan.

          (b)  Notice of Denial of Claim. In the event of a denial or limitation
               of any benefit or payment due to or requested by any Participant
               or beneficiary under the Plan ("claimant"), the claimant shall be
               given a written notification containing specific reasons for the
               denial or limitation of his benefit. The written notification
               shall contain specific reference to the pertinent Plan provisions
               on which the denial or limitation of his benefit is based. In
               addition, it shall contain a description of any other material or
               information necessary for the claimant to perfect a claim, and an
               explanation of why such material or information is necessary. The
               notification shall further provide appropriate information as to
               the steps to be taken if the claimant wishes to submit his claim
               for review. This written notification shall be given to a
               claimant within 90 days after receipt of his claim by the
               Committee unless special circumstances require an extension of
               time for processing the claim. If such an extension of time for
               processing is required, written notice of the extension shall be
               furnished to the claimant prior to the termination of said 90-day
               period, and such notice shall indicate the special circumstances
               which make the postponement appropriate.

          (c)  Right of Review. In the event of a denial or limitation of his
               benefit, the claimant or his duly authorized representative shall
               be permitted to review pertinent documents and to submit to the
               Committee issues and comments in writing. In addition, the
               claimant or his duly authorized representative may make a written
               request for a full and fair review of his claim and its denial by
               the Committee; provided, however, that such written request must
               be received by the Committee (or its delegate to receive such
               requests) within 60 days after receipt by the claimant of written
               notification of the denial or limitation of the claim. The 60-day
               requirement may be waived by the Committee in appropriate cases.

          (d)  Decision on Review. A decision shall be rendered by the Committee
               within 60 days after the receipt of the request for review,
               provided that where special circumstances require an extension of
               time for processing the decision, it may be postponed on written
               notice to the claimant (prior to the expiration of the initial
               60-day period) for an additional 60 days after the receipt of
               such request for review. Any decision by the Committee shall be
               furnished to the claimant in writing and shall set forth the
               specific reasons for the decision and the specific Plan
               provisions on which the decision is based.

                                       -5-

<PAGE>

          (e)  Court Action. No Participant or beneficiary shall have the right
               to seek judicial review of a denial of benefits, or to bring any
               action in any court to enforce a claim for benefits prior to
               filing a claim for benefits or exhausting his rights to review
               under this Section 6.4.

     6.5 Income and Employment Tax Withholding. The Employers shall be
responsible for withholding, and the Participant shall agree to such
withholdings from the distribution of his benefit under the Plan of all
applicable federal, state, city and local taxes.

                                   ARTICLE VII
                      AMENDMENT AND TERMINATION OF THE PLAN

     7.1 Amendment of the Plan. The Company shall have the right at any time to
modify, alter or amend the Plan in whole or in part.

     7.2 Termination of the Plan. The Company reserves the right at any time to
terminate the Plan or to reduce or cease benefit accruals at any time.

                                  ARTICLE VIII
                                  MISCELLANEOUS

     8.1 Governing Law. The Plan shall be construed, regulated and administered
according to the laws of the State of Indiana, except in those areas preempted
by the laws of the United States of America in which case such laws will
control.

     8.2 Headings and Gender. The headings and subheadings in the Plan have been
inserted for convenience of reference only and shall not affect the construction
of the provisions hereof. In any necessary construction the masculine shall
include the feminine and the singular the plural, and vice versa.

     8.3 Participant's Rights; Acquittance. No Participant shall acquire any
right to be retained in an Employer's employ by virtue of the Plan, nor, upon
his dismissal, or upon his voluntary termination of employment, shall he have
any right or interest in or to any Plan assets other than as specifically
provided herein.

     8.4 Spendthrift Clause. No benefit or interest available hereunder will be
subject in any manner to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance, attachment or garnishment by creditors of the Participant
or the Participant's designated beneficiary, either voluntarily or
involuntarily.

     8.5 Counterparts. This Plan may be executed in any number of counterparts,
each of which shall constitute but one and the same instrument and may be
sufficiently evidenced by any one counterpart.

                                       -6-

<PAGE>

     8.6 No Enlargement of Employment Rights. Nothing contained in the Plan
shall be construed as a contract of employment between an Employer and any
person, nor shall the Plan be deemed to give any person the right to be retained
in the employ of an Employer or limit the right of an Employer to employ or
discharge any person with or without cause, or to discipline any Employee.

     8.7 Limitations on Liability. Notwithstanding any of the preceding
provisions of the Plan, none of the Employers, the Committee and each individual
acting as an employee or agent of any of them shall be liable to any
Participant, Employee or beneficiary for any claim, loss, liability or expense
incurred in connection with the Plan, except when the same shall have been
judicially determined to be due to the gross negligence or willful misconduct of
such person.

     8.8 Incapacity of Participant or Beneficiary. If any person entitled to
receive a distribution under the Plan is physically or mentally incapable of
personally receiving and giving a valid receipt for any payment due (unless
prior claim therefor shall have been made by a duly qualified guardian or other
legal representative), then, unless and until claim therefor shall have been
made by a duly appointed guardian or other legal representative of such person,
the Committee may provide for such payment or any part thereof to be made to any
other person or institution then contributing toward or providing for the care
and maintenance of such person. Any such payment shall be a payment for the
account of such person and a complete discharge of any liability of the
Employers and the Plan.

     8.9 Corporate Successors. The Plan shall not be automatically terminated by
a transfer or sale of assets of the Company or by the merger or consolidation of
the Company into or with any other corporation or other entity ("Transaction"),
but the Plan shall be continued after the Transaction only if and to the extent
that the transferee, purchaser or successor entity agrees to continue the Plan.

     8.10 Evidence. Evidence required of anyone under the Plan may be by
certificate, affidavit, document or other information which the person relying
thereon considers pertinent and reliable, and signed, made or presented by the
proper party or parties.

     8.11 Action by Employer. Any action required of or permitted by an Employer
under the Plan shall be by resolution of its Board of Directors or, for the
Company, by resolution of the Board or the Committee or by a person or persons
authorized by resolution of the Board or the Committee.

     8.12 Severability. In the event any provisions of the Plan shall be held to
be illegal or invalid for any reason, such illegality or invalidity shall not
affect the remaining parts of the Plan, and the Plan shall be construed and
endorsed as if such illegal or invalid provisions had never been contained in
the Plan.

                                       -7-

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