Document:

Restricted Stock Agreement

 Exhibit 10.2 
 RESTRICTED STOCK AGREEMENT 
 This Restricted Stock Agreement (this
“Agreement”) is made as of the 1st day of January, 2012 (the “Effective Date”) between First Commonwealth Financial Corporation (the “Company”) and T. Michael Price (the “Grantee”). 

RECITALS 

A. The Company, First Commonwealth Bank and Grantee have entered into an Amended and Restated Employment Agreement dated as of
January 1, 2011 (the “Amended Employment Agreement”) whereby the Company has agreed to employ Grantee as Interim President and Chief Executive Officer of the Company and First Commonwealth Bank has agreed to continue Grantee’s
employment as President, in each case, upon the terms and subject to the conditions of the Amended Employment Agreement. 
 B.
The Company has agreed pursuant to the Amended Employment Agreement to award Grantee 100,000 restricted shares of the Company’s common stock, par value $1.00 per share (“Common Shares”), as a retention award, upon the terms and
subject to the conditions of this Agreement. 
 AGREEMENT 

Accordingly, in consideration of the foregoing and for good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Company and Grantee agree as follows: 
 1. Award of Stock. The Company hereby grants to the Grantee
100,000 shares of Restricted Stock (the “Shares”), subject to the terms set forth herein and to the terms and provisions of the First Commonwealth Financial Corporation Incentive Compensation Plan (the “Plan”) applicable to
Restricted Stock, which terms and provisions are incorporated herein by this reference. Unless the context requires otherwise, the terms defined in the Plan shall have the same meanings herein. 

2. Restriction on Transfer. Except for the escrow described in Section 5 hereof or the transfer of the Shares to the Company
as contemplated by this Agreement, none of the Shares or any beneficial interest therein shall be transferred, encumbered, pledged or otherwise alienated or disposed of in any way until the Shares become nonforfeitable in accordance with
Section 3 of this Agreement. 
 3. Vesting and Forfeiture. The Shares are subject to forfeiture to the Company until
such time as they become nonforfeitable as set forth in this Section 3. 
 (a) The Shares will become nonrestricted and
nonforfeitable as follows, unless earlier forfeited in accordance with this Section 3: 
 (i) 25,000 Shares
will become nonrestricted and nonforfeitable on January 1, 2013; 

 (ii) 25,000 Shares will become nonrestricted and nonforfeitable on
January 1, 2014; 
 (iii) 25,000 Shares will become nonrestricted and nonforfeitable on January 1,
2015; and 
 (iv) 25,000 Shares will become nonrestricted and nonforfeitable on January 1, 2016; 

in each case, provided that the Grantee remains an Employee through such date. 
 (b) If the Grantee’s employment is terminated by the Company or First Commonwealth Bank other than for “Cause” (as defined in the Amended Employment Agreement) or by Grantee for “Good
Reason” (as defined in the Amended Employment Agreement”), any Shares which have not as of the termination of Grantee’s employment become nonforfeitable will immediately and automatically, without any action on the part of the
Company, become nonforfeitable. 
 (c) If the Grantee’s employment is terminated (i) by the Company or First
Commonwealth Bank for Cause, (ii) by Grantee for other than Good Reason or (iii) as a result of Grantee’s death or Disability, any Shares which have not as of the termination of Grantee’s employment become nonforfeitable will
immediately and automatically be forfeited. 
 (d) Notwithstanding the foregoing schedule, if a Change in Control occurs while
the Grantee is an Employee, then any Shares which have not become nonforfeitable will immediately and automatically, without any action on the part of the Company, become nonforfeitable as of the date of the Change in Control. 

4. Share Legends. The following legend will be placed on the certificates evidencing all Shares which remain subject to
forfeiture, in addition to any other legends that may be required to be placed on such certificates pursuant to applicable law, the Plan or otherwise: 
 THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS OF THE FIRST COMMONWEALTH FINANCIAL CORPORATION INCENTIVE COMPENSATION PLAN AND A
RESTRICTED STOCK AGREEMENT BETWEEN THE SHAREHOLDER NAMED ON THE FACE OF THIS CERTIFICATE AND FIRST COMMONWEALTH FINANCIAL CORPORATION (WHICH TERMS AND CONDITIONS MAY INCLUDE, WITHOUT LIMITATION, FORFEITURE CONDITIONS AND TRANSFER RESTRICTIONS). A
COPY OF THAT AGREEMENT IS ON FILE IN THE PRINCIPAL OFFICES OF FIRST COMMONWEALTH FINANCIAL CORPORATION AND WILL BE MADE AVAILABLE TO THE HOLDER OF THIS CERTIFICATE WITHOUT CHARGE UPON REQUEST TO THE SECRETARY OF THE CORPORATION. 

  
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 5. Escrow of Shares. 

(a) Certificates evidencing the Shares issued under this Agreement will be held in escrow by the Secretary of the Company or his or her
designee (the “Escrow Holder”) until such Shares cease to be subject to forfeiture in accordance with Section 3, at which time the Escrow Holder will deliver such certificates representing the nonforfeitable Shares to the Grantee;
provided, however, that no certificates for Shares will be delivered to the Grantee until appropriate arrangements have been made with the Company for the withholding or payment of any taxes that may be due with respect to such Shares. 

(b) If any of the Shares are forfeited by the Grantee, the Escrow Holder will deliver the stock certificate(s) evidencing those Shares to
the Company, which will then have the right to retain and transfer those Shares to its own name free and clear of any rights of the Grantee under this Agreement or otherwise. 
 (c) The Escrow Holder is hereby directed to permit transfer of the Shares only in accordance with this Agreement or in accordance with instructions which are consistent with this Agreement which are
signed by both parties. In the event further instructions are reasonably desired by the Escrow Holder, he or she shall be entitled to conclusively rely upon directions given by the Committee. The Escrow Holder shall have no liability for any act or
omissions hereunder while acting in good faith in the exercise of his or her own judgment. 
 6. Rights of Grantee. The
Grantee shall have the right to vote the Shares and to receive dividends with respect to the Shares, subject to Section 7. 

7. Stock Splits, etc. If, while any of the Shares remain subject to forfeiture, there occurs any merger, consolidation,
reorganization, recapitalization, stock split, stock dividend, combination or exchange of shares, or other similar change in the Company’s common stock, then any and all new, substituted or additional securities or other consideration to which
the Grantee is entitled by reason of the Grantee’s ownership of the Shares will be immediately subject to this Agreement, deposited with the Escrow Holder and included thereafter as “Shares” for purpose of this Agreement. 

8. 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 Shares. Alternatively, the
Company may, at Grantee’s election, (i) withhold the required amounts from Grantee’s pay during the pay periods next following the date on which any such applicable tax liability otherwise arises, or (ii) 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 Shares.

  
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 9. 83(b) Election. Grantee hereby acknowledges that he may file an election pursuant
to Section 83(b) of the Code to be taxed currently on the fair market value of the Shares (less any purchase price paid for the Shares), provided that such election must be filed with the Internal Revenue Service no later than thirty
(30) days after the grant of such Shares. Grantee will seek the advice of his own tax advisors as to the advisability of making such a Section 83(b) election, the potential consequences of making such an election, the requirements for
making such an election, and the other tax consequences of this Award under federal, state, and any other laws that may be applicable. The Company and its Subsidiaries and agents have not and are not providing any tax advice to Grantee. 

10. 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. 
 11. General Provisions: 
 (a) This Agreement, together with the Plan,
constitutes the entire agreement between the Company and the Grantee regarding the grant of the Shares. 
 (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 the Grantee. Any such amendment shall be in
writing and signed by the Company and the Grantee. 
 (c) Nothing contained in this Agreement shall be deemed to require the
Company and its Subsidiaries to continue the Grantee’s relationship as an Employee or to modify any agreement between the Grantee and the Company or its Subsidiaries relating thereto. 

(d) The Committee may from time to time impose any conditions on the Shares 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 Shares are issued and resold in compliance with the Securities Act of 1933, as amended. 

(e) The Grantee agrees upon request 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 

  
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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 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. 
 (h) 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. 

Signature page follows. 

  
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 IN WITNESS WHEREOF, the parties have duly executed this Restricted Stock Agreement 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

 
			
	
	 /s/ T. Michael Price

	T. Michael Price

  
 6Change of Control Agreement - T. Michael Price

 Exhibit 10.3 
 CHANGE OF CONTROL AGREEMENT 
 THIS CHANGE OF CONTROL AGREEMENT
(this “Change of Control Agreement”), is entered into as of December 30, 2011, by and between First Commonwealth Financial Corporation, a Pennsylvania corporation (the “Company”), and T. Michael Price
(“Executive”), and will be effective as of December 31, 2011 (the “Effective Date”). 
 W I T N E
S S E T H: 
 WHEREAS, the Compensation & Human Resources Committee (“Compensation Committee”)
of the Company’s Board of Directors (the “Board”) has determined that it is in the best interests of the Company and its shareholders to assure that the Company will have the continued dedication of the Executive, notwithstanding the
possibility, threat or occurrence of a “Change of Control” (as defined below) of the Company; 
 WHEREAS, the
Compensation Committee believes that it is important to diminish the inevitable distraction of the Executive that would result from the personal uncertainties and risks created by a pending or threatened Change of Control and to encourage the
Executive to continue to devote Executive’s full attention and dedication to the Company currently and in the event of any threatened or pending Change of Control, and to provide the Executive with compensation and benefit arrangements upon the
termination of Executive’s employment following a Change of Control; 
 WHEREAS, the Company and the Executive
entered into a change of control agreement entered into as of October 19, 2007 (the “Original Change of Control Agreement”), which agreement will remain in effect until December 30, 2011; 

WHEREAS, the Compensation Committee has determined that it would be advisable and in the best interests of the Company for the
Company to enter into a new Change of Control Agreement with the Executive, to reflect certain changes in corporate governance pay practices and certain legally-required changes; 

WHEREAS, the Compensation Committee has authorized the Company to enter into this Change of Control Agreement with the Executive;
and 
 WHEREAS, the Company and the Executive wish to enter into this Change of Control Agreement in order to accomplish
these objectives. 

 NOW THEREFORE, in consideration of the promises and mutual covenants contained
herein, and other good and valuable consideration, the Company and the Executive do hereby agree as follows: 
 CERTAIN
DEFINITIONS 
 “Cause” for termination will be deemed to exist if: 

the Executive is convicted of, or pleads guilty or nolo contendere to, any crime which constitutes a felony under the laws
of the United States of America or of any state or territory thereof, and the commission of that felony resulted in, or was intended to result in, a loss (monetary or otherwise) to the Employer Entities, or any of their respective clients,
customers, directors, officers or employees; 
 the Executive fails or refuses to perform the Executive’s
duties to any of the Employer Entities (other than during such time as the Executive is incapacitated due to an accident or illness or during the Executive’s regularly scheduled vacation periods) with the degree of skill and care reasonably
expected of a professional of his experience and stature for a period of thirty (30) consecutive days following the receipt by the Executive of a notice from the Company sent by certified mail, return receipt requested, setting forth in detail
the facts upon which the Company relies in concluding that the Executive has failed or refused to perform the Executive’s duties and indicating with specificity the duties that the Company demands that the Executive perform without delay;

 the Executive engages in an act or acts of dishonesty which result or are intended to result in material
damage to the business or reputation of any of the Employer Entities; or 
 the Executive fails or refuses to
comply with any material provision of this Change of Control Agreement or the Amended and Restated Employment Agreement by and among the Company, FCB and the Executive, effective as of January 1, 2012 (the “Amended and Restated Employment
Agreement”) or any policy or procedure of any Employer Entity, which violations are demonstrably willful and deliberate on the Executive’s part and which result or are intended to result in material damage to the business or reputation of
any of the Employer Entities and as to which failure or refusal to comply the Company has notified the Executive in writing. 

“Change of Control” will mean: 
 The acquisition, other than from the Company, by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act), of beneficial ownership (within the meaning
of Rule 13d-3 promulgated under the Exchange Act) of fifty percent (50%) or more of the then outstanding shares of common stock of the Company; 
 Individuals who, as of December 31, 2011, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board, provided that any individual
becoming a director subsequent to December 31, 2011, whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board will be
considered as though such individual were a member of the Incumbent Board; or 

  
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 Consummation of a reorganization, merger, consolidation, sale or other
disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case, with respect to which all or substantially all of the individuals and entities who were the beneficial owners of shares
outstanding shares of the Company’s common stock immediately prior to such Business Combination do not, following such Business Combination, beneficially own, directly or indirectly, more than fifty-percent (50%) of the then outstanding
shares of common stock of the corporation resulting from such a Business Combination (including, without limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets either
directly or through one or more subsidiaries). 
 Notwithstanding any other provision of this Change of Control
Agreement to the contrary, (i) the placement of any of the Employer Entities into receivership or conservatorship by the Federal Deposit Insurance Corporation (“FDIC”) or a state or federal banking regulatory agency with jurisdiction
over any of the Employer Entities, (ii) the acquisition of fifty-percent (50%) or more of any of the Employer Entities’ assets or assumption of fifty-percent (50%) or more of the Employer Entities’ deposit liabilities in an
FDIC-assisted transaction, and (iii) a change in any Employer Entity’s board of directors at the direction of a state or federal banking regulatory authority having jurisdiction over any of the Employer Entities, will not constitute a
Change of Control. 
 “Client” means any client or prospective client of the Company to whom the Executive
provided services, or for whom the Executive transacted business, or whose identity became known to the Executive in connection with the Executive’s relationship with or employment by the Company. 

“Code” means the Internal Revenue Code of 1986, as amended. 

“Employer Entity” means the Company and each of its subsidiaries and affiliates, including without limitation, FCB.

 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 

“Good Reason” means: 
 the assignment to the Executive of any duties inconsistent in any respect with the Executive’s title, position, authority, duties or responsibilities immediately prior to the Change of Control or any
other action by the Company which results in a diminution of such position, authority, duties or responsibilities, other than an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the Company promptly
after the receipt of notice thereof given by the Executive; 
 any requirement of the Company that the Executive
(i) be based anywhere more than fifty (50) miles from the office where the Executive is located immediately prior to the Change of Control or (ii) travel on Company business to an extent substantially greater than the travel
obligations of the Executive immediately prior to the Change of Control; or 
 (i) a reduction by the Company in
the Executive’s rate of annual base salary as in effect immediately prior to the Change of Control or (ii) the failure of the Company to continue in effect any employee benefit plan, compensation plan, welfare benefit plan or material
fringe benefit plan in which the Executive is participating or entitled to participate immediately prior to the Change of Control, unless the Executive is permitted to participate in other plans providing the Executive with substantially equivalent
benefits in the aggregate (at substantially equivalent cost with respect to welfare benefit plans). 

  
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 Notwithstanding any other provision of this Change of Control Agreement to
the contrary, the Executive acknowledges and agrees that, in the event for any reason the Company does not appoint the Executive to serve as its President and Chief Executive Officer or the Executive ceases to serve as Interim President and Chief
Executive Officer of the Company, such absence of appointment or event will not constitute a “Good Reason” and no severance will be payable under this Change of Control Agreement as a result thereof, or as a result of the Executive’s
voluntary termination of employment with the Employer Entities as a result of any such absence of appointment or event 

“Protected Period” means the period of time beginning with the date of a Change of Control and ending two (2) years
following such Change of Control. 
 “Qualifying Termination” means a termination of the Executive’s
employment (i) by the Company other than for Cause, disability or death, or (ii) by the Executive for Good Reason, provided that such termination of employment constitutes a Separation from Service. Notwithstanding any other provision of
this Change of Control Agreement to the contrary, it will not be deemed to be a termination of employment by the Company other than for Cause if (i) the Executive is appointed to serve as President and/or Chief Executive Officer of the Company
and the Executive no longer serves as President of FCB, or (ii) for any reason the Company does not appoint the Executive to serve as its President and Chief Executive Officer or the Executive ceases to serve as Interim President and Chief
Executive Officer of the Company. 
 “Section 409A” means Section 409A of the Code and the regulations and
other guidance promulgated thereunder. 
 “Section 409A Change of Control” means a “Change of Control
Event” as defined in Section 409A. 
 “Section 409A Deferred Compensation” means an amount payable or
benefit to be provided under a “nonqualified deferred compensation plan” as defined in Section 409A. 

“Separation from Service” has the meaning set forth in Section 409A. 

TERM 

1.1 The term of this Change of Control Agreement will begin on the Effective Date and will continue for thirty-six (36) full
calendar months thereafter (the “Initial Term”). This term of this Change of Control Agreement will automatically renew for twenty-four (24) full calendar months thereafter on the third anniversary of the Effective Date and on each
second anniversary thereafter (each, a “Renewal Term”) unless either party hereto gives notice in writing to the other party at least twelve (12) months prior to the end of the Initial Term or any Renewal

  
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Term of the party’s intent not to renew such term. Notwithstanding the foregoing, if a Change of Control occurs prior to the end of the Initial Term or Renewal Term, as the case may be, then
the term of this Change of Control Agreement will continue until the later of (a) the end of the Protected Period, or (b) if a Qualifying Termination occurs during the Protected Period, the end of the Severance Period. 

Notwithstanding anything in this Section to the contrary, this Change of Control Agreement will terminate if the Executive or the Company
terminates the Executive’s employment for any reason prior to a Change in Control. 
 PAYMENTS 

Qualifying Termination. If during the Protected Period the employment of the Executive is terminated pursuant to a Qualifying
Termination, subject to Article 7 hereof, then the Employer Entities will pay to the Executive (or the Executive’s beneficiary as provided in Article 5 hereof) the accrued obligations, severance pay and severance benefits in accordance with
Sections 3.2, 3.3 and 3.4 hereof. If the Executive’s employment with the Employer Entities is terminated (i) for any reason prior to or after the Protected Period or (ii) other than pursuant to a Qualifying Termination during the
Protected Period, then the Executive will not be entitled to the payment of any severance or provision of any benefits under this Change of Control Agreement and, to the extent applicable, the terms and conditions of the Amended and Restated
Employment Agreement will control. 
 Accrued Benefits. In the event of a Qualifying Termination described in
Section 3.1 hereof, the Employer Entities will pay to the Executive any accrued and unpaid base salary and paid time-off, within thirty (30) days following the date of Qualifying Termination or such earlier date as is required by law.

 Severance Pay. Subject to Article 7 hereof, in the event of a Qualifying Termination described in Section 3.1
hereof, the Employer Entities will pay to the Executive an amount equal to two (2) times: (i) the Executive’s annual base salary immediately prior to the Change of Control; (ii) the average of the aggregate annual amount of all
bonuses paid to the Executive during the thirty-six (36) month period (or the Executive’s period of employment with the Employer Entities, if less) preceding the Change of Control; (iii) the aggregate amount of all contributions by
the Company for the account of the Executive under the First Commonwealth Financial Corporation 401(k) Savings and Investment Plan and the First Commonwealth Financial Corporation Stock Ownership Plan during the twelve (12) month period
preceding the Change of Control; and (iv) the aggregate of all contributions by the Company for the account of the Executive to the Company’s Non-Qualified Deferred Compensation Plan during the twelve (12) month period preceding the
Change of Control. Subject to Article 7 hereof, such sum will be paid in equal periodic installments payable in accordance with the Employer Entity’s normal payroll practices during the twenty-four (24) month period immediately following
such Qualifying Termination (the “Severance Period”). 

  
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 Continued Health Insurance Benefits. In addition to the severance payable pursuant to
Section 3.3 hereof, in the event of a Qualifying Termination described in Section 3.1 hereof, the Employer Entities will offer continuation coverage to the Executive, as required by the Consolidated Omnibus Budget Reconciliation Act of
1985, as amended (“COBRA”), under the Company’s group health plan on the terms and conditions mandated by COBRA and the Company will pay the full cost of the COBRA premiums on behalf of the Executive and his covered family members
during the eighteen (18) month period immediately following such Qualifying Termination. 
 Other Compensation and
Benefits. 
 (a) Except as expressly provided for in Article 3 hereof, the Executive will not be entitled to severance pay
or benefits under any plan, program, policy, practice or other arrangement of any Employer Entity in connection with any Qualifying Termination, including without limitation this Change of Control Agreement, the Amended and Restated Employment
Agreement or any severance policy of any Employer Entity. 
 (b) During the Severance Period, the Executive will not be eligible
to participate in any Employer Entity equity-based incentive, other incentive, 401(k) savings, employee stock ownership, deferred compensation, supplemental retirement, supplemental savings, life insurance, short or long term disability, employee
welfare benefit, fringe benefit, perquisite, vacation, paid time-off or other employee benefit plan, program, policy, practice or other arrangement of any Employer Entity. 
 (c) Unless otherwise determined by the Board or applicable committee thereof, any outstanding options or other equity based awards held by the Executive to purchase or acquire Employer stock under any
equity-based plan of any Employer Entity will be subject to the exercisability, vesting and forfeiture provisions of the respective plan. Any benefits the Executive has earned with respect to his employment for periods on or prior to the Qualifying
Termination under any annual incentive, deferred compensation, supplement retirement or savings, 401(k), employer stock ownership or similar plan of any Employer Entity will be paid in accordance with the terms of such plan. 

Release. The Company’s obligation to make any payment to the Executive as described in this Article 3 is contingent upon
the Executive’s execution and non-revocation of a release within sixty (60) days following the Executive’s Separation from Service, in form and substance reasonably satisfactory to the Company, that, in the opinion of the
Company’s counsel, is effective to release the Company from all claims relating to the Executive’s employment or the termination thereof (other than under the terms of this Change of Control Agreement), and the Company will have no
obligation to make any payment unless and until such a release has become effective. 
 Business Expenses. The Employer
Entities will reimburse the Executive for any unreimbursed, reasonable business expenses incurred by the Executive on or before the Qualifying Termination, pursuant to Employer’s reimbursement policies, provided that Executive present all
expense reports to Employer in accordance with such policies. All such expense reports must be submitted within thirty (30) days following the date of the Qualifying Termination. 

  
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 Withholding Taxes and Other Deductions. The Employer Entities may withhold from any
payments made to the Executive any applicable federal, state, local and other taxes (such as employment taxes), and such other deductions as are prescribed by law. This includes withholding amounts from payments made pursuant to this Article 3 in
order to satisfy any withholding obligations. 
 LIMITATION ON PAYMENT OF BENEFITS 

Notwithstanding anything to the contrary in this Change of Control Agreement, if the payments and benefits pursuant to Article 3 hereof,
either alone or together with other payments and benefits which the Executive has the right to receive from the Company or any of its subsidiaries, would constitute a “parachute payment” under Section 280G of the Code, the payments
and benefits pursuant to Article 3 hereof will be reduced, in the manner determined by independent tax counsel selected as provided below, by the amount, if any, which is the minimum necessary to result in no portion of the payments and benefits
under Article 3 hereof being non-deductible to the Company or such subsidiary pursuant to Section 280G of the Code and subject to the excise tax imposed under Section 4999 of the Code; provided, however, that if such procedure for
determining the reduction of payments and benefits is determined by the Company to result in a violation of Section 409A, such reduction will be made on a pro rata basis. The determination of whether any reduction in the payments and benefits
is to be made pursuant to Article 3 hereof will be based upon the written advice of independent tax counsel selected by the Company and reasonably acceptable to the Executive. The fees and expenses of the tax counsel will be paid by the Company. The
Company will use its best efforts to cause such counsel to prepare the foregoing opinion as promptly as practicable, and in any event, within thirty (30) days after the Change of Control or date of Qualifying Termination, if earlier. The
Company and the Executive agree to be bound by the determination of such tax counsel and to make appropriate payments to each other to give effect to the intent and purpose of this Article 4. 

BENEFICIARIES 
 If the Executive dies after the occurrence of a Qualifying Termination, but prior to the payment of all of the monthly severance payments required by Article 3 hereof, then all remaining severance
payments will be paid to the beneficiary designated in writing by the Executive at the same time, and in the same amount, as would have been payable to the Executive. The designation of a beneficiary for purposes of this Article 5 will be revocable
during the lifetime of the Executive. If the Executive does not designate a beneficiary under this Change of Control Agreement, the beneficiary will be deemed to be the same person that the Executive designated with respect to the Executive’s
group life insurance program maintained by the Company. 

  
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 EXECUTIVE COVENANTS 

Non-Disparagement. The Executive agrees that he will not, in writing or orally, or through conduct, disparage, deprecate,
discredit, vilify or otherwise say anything negative about the Employer Entities. The Executive agrees never to disparage the services, products, customers, or employees of any Employer Entity. These prohibitions include, without limitation, any
such statements made through use of social media sites, such as Facebook or Twitter. 
 Other Restrictions.
Notwithstanding any other provision of this Change of Control Agreement to the contrary, in the event of any Qualifying Termination under this Change of Control Agreement, the provisions of Sections 3.01, 3.02, 3.04, 3.05 and 5.06 of the Amended and
Restated Employment Agreement will continue to apply during the Severance Period or such later period set forth therein. 

Validity. The terms and provisions of this Article 6 are intended to be separate and divisible provisions and if, for any reason,
any one or more of them is held to be invalid or unenforceable, neither the validity nor the enforceability of any other provision of this Change of Control Agreement will thereby be affected. The parties hereto acknowledge that the potential
restrictions on the Executive’s future employment imposed by this Article 6 are reasonable in both duration and geographic scope and in all other respects. If for any reason any court of competent jurisdiction will find any provisions of this
Article 6 unreasonable in duration or geographic scope or otherwise, the Executive and the Company agree that the restrictions and prohibitions contained herein will be effective to the fullest extent allowed under applicable law in such
jurisdiction. 
 Consideration. The parties acknowledge that this Change of Control Agreement would not have been entered
into and the benefits described herein would not have been promised in the absence of the Executive’s promises under this Article 6. 
 Cease Payments. In the event that the Executive breaches any material provision of this Article 6 or any applicable material provision of the Amended and Restated Employment Agreement, the
Company’s obligation to make or provide payments or benefits under Article 3 will cease, to the extent not already paid or provided. 
 SECTION 409A 
 This Change of Control Agreement will be administered,
interpreted and construed in compliance with Section 409A, including any exemption thereunder. Each payment hereunder, including each installment payment, will be treated as a separate payment for purposes of Section 409A. With respect to
payments subject to Section 409A (and not exempt therefrom), each such payment will be paid as a result of a permissible distribution event, and at a specified time, consistent with Section 409A. The Executive has no right to, and there
will not be, any 

  
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acceleration or deferral with respect to payments hereunder. The Executive acknowledges and agrees that the Company will not be liable for, and nothing provided or contained in this Change of
Control Agreement will obligate or cause the Company to be liable for, any tax, interest or penalties imposed on the Executive related to or arising with respect to any violation of Section 409A. For purposes of this Change of Control
Agreement, any reference to “termination of employment”, “termination” or similar reference will be construed to be a reference to Separation from Service. 
 Notwithstanding any other provision of this Change of Control Agreement to the contrary, to the extent that any amount payable or benefit to be provided under this Change of Control Agreement constitutes
Section 409A Deferred Compensation that is not exempt from Section 409A, and such amount or benefit is payable or to be provided as a result of Separation from Service, and the Executive is a “specified employee” (as defined and
determined under Section 409A and any relevant procedures that the Company may establish) (“Specified Employee”) at the time of his Separation from Service, then such payment or benefit will not be made or provided to the Executive
until the day after the date that is six months following the Executive’s Separation from Service, at which time all payments or benefits that otherwise would have been paid or provided to the Executive under this Change of Control Agreement
during that six-month period, but were not paid or provided because of this Section 7.2, will be paid or provided, with any cash payment to be made in a single lump sum (without any interest with respect to that six-month period). This
six-month delay will cease to be applicable if the Executive’s Separation from Service due to death or if the Executive dies before the six-month period has elapsed, in which event any such payments or benefits will be paid or provided to the
Executive’s estate within thirty (30) days of the date of death. 
 Notwithstanding any other provision of this Change
of Control Agreement to the contrary, to the extent that any amount payable or benefit to be provided under this Change of Control Agreement constitutes Section 409A Deferred Compensation that is not exempt from Section 409A and the
Executive is not a Specified Employee at the time of his Separation from Service, then such payment or benefit will not be provided to the Executive until the sixtieth (60th) day following the Executive’s Separation from Service, at which
time all payments or benefits that otherwise would have been paid or provided to the Executive under this Change of Control Agreement during the sixty (60) days period, but were not paid or provided because of this Section 7.3, will be
paid or provided, with any cash payment to be made in a single lump sum (without any interest with respect to that sixty-day period). 
 SUCCESSORS; BINDING AGREEMENT 
 This Change of Control Agreement will inure
to the benefit of and be binding upon the Company and its successors and assigns. 
 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 Change of Control Agreement in the same manner and
to the same extent that the Company would be required to perform it if no such 

  
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succession had taken place. As used in this Change of Control Agreement, “Company” will mean the Company as defined herein and any successor to its business and/or assets which assumes
and agrees to perform this Change of Control Agreement by operation of law or otherwise. 
 This Change of Control Agreement
will be binding upon, and will inure to the benefit of and be enforceable by, the Executive, the Executive’s heirs, personal representatives, executors and administrators. 
 ATTORNEY’S FEES 
 Each party will bear all attorney’s fees and
related expenses in connection with or relating to the negotiation and enforcement of this Change of Control Agreement; provided, that if the Executive is wholly successful on the merits of any action or proceeding to enforce the Executive’s
rights under this Change of Control Agreement, the Company will reimburse all reasonable attorney’s fees and related expenses incurred by the Executive in connection with such action or proceeding. Any amount payable by the Company in any year
pursuant to the prior sentence will not be affected by the amount of any payment made by the Company pursuant to the prior sentence in any other year, and under no circumstances will the Executive by permitted to liquidate or exchange the benefit
afforded him in the prior sentence for cash or any other benefit. To the extent any such payment is made via reimbursement to the Executive, no such reimbursement will be made by the Company later than the end of the year following the year in which
the underlying expense is incurred. The reimbursement right set forth in this Article 9 will be limited to fees and expenses incurred during the Executive’s employment with the Employer Entities and during the ten (10) year period
immediately thereafter. 
 EMPLOYMENT WITH EMPLOYER ENTITIES 

Employment with the Company for purposes of this Change of Control Agreement will include employment with any Employer Entity.

 NO SETOFF 
 No amounts otherwise due or payable under this Change of Control Agreement will be subject to setoff by the Company, except as otherwise required by law. 

NOT A CONTRACT FOR EMPLOYMENT 
 This Change of Control Agreement will not in any way constitute an employment agreement between the Company and the Executive and it will not oblige the Executive to continue in the employ of Company, nor
will it oblige the Company to continue to employ the Executive. 

  
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 FDIC EVENTS 
 If any of the Employer Entities is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act or equivalent provisions relating to a regulator with supervisory authority over any
of the Employer Entities), all obligations under this Change of Control Agreement will terminate as of the date of default, but this Article 13 will not affect any vested rights of the parties. Notwithstanding any other provision of this Change
of Control Agreement, the Employer Entities will have no obligation to make any payments to Executive if such payments would be prohibited by applicable federal or state law, including without limitation Part 359 of the regulations of the Federal
Deposit Insurance Corporation (12 CFR § 359 et seq.) or any successor provision. 
 NOTICES 

All notices and other communications required to be given hereunder will be in writing and will be deemed to have been delivered or made
when mailed, by certified mail, return receipt requested, if to the Executive, to the last address which the Executive will provide to the Employer, in writing, for this purpose, but if the Executive has not then provided such an address, then to
the last address of the Executive then on file with the Company; and if to the Company, then to the last address which the Company will provide to the Executive, in writing, for this purpose, but if the Company has not then provided the Executive
with such an address, then to: 
 Chairman, Board of Directors 

First Commonwealth Financial Corporation 

Old Courthouse Square 
 22 North Sixth Street 
 Indiana, Pennsylvania 15701 

GOVERNING LAW AND JURISDICTION 
 This Change of Control Agreement will be governed by, and construed in accordance with, the laws of the Commonwealth of Pennsylvania, except for the laws governing conflict of laws. In the event that
either party will institute suit or other legal proceeding, whether in law or equity, the Courts of the Commonwealth of Pennsylvania will have exclusive jurisdiction with respect thereto. 

  
 11 

 ENTIRE AGREEMENT 

This Change of Control Agreement and the Amended and Restated Employment Agreement constitutes the entire understanding between the
Company and the Executive concerning the subject matter hereof and supersedes all prior written or oral agreements or understandings between the parties hereto, including without limitation the Original Change of Control Agreement. No term or
provision of this Change of Control Agreement may be changed, waived, amended or terminated except by a written instrument of equal formality to this Change of Control Agreement. 

Signature page follows. 

  
 12 

 IN WITNESS WHEREOF, the parties have executed this Change of Control Agreement as of
the date set forth above. 
  

							
	(Corporate Seal)	 		 	FIRST COMMONWEALTH FINANCIAL CORPORATION
				
	 /s/ Corinne S. Cramer
	 		 	By:	 	 /s/ Matthew C. Tomb

	Witness	 		 		 	Name: Matthew C. Tomb
		 		 		 	Title:   Executive Vice President
			
		 		 	EXECUTIVE
			
	 /s/ Wendy Reynolds
	 		 	 /s/ T. Michael Price

	Witness	 		 	

  
 13

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