SEC Contract Filing

Filing Date: 2017-03-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>9
<FILENAME>exhibit101-201610k.htm
<DESCRIPTION>EXHIBIT 10.1
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<div><a name="sdb96a335e2be462cb7e7e7ef8690641c"></a></div><div><div style="line-height:120%;text-align:center;font-size:14pt;"><font style="font-family:inherit;font-size:14pt;font-style:italic;font-weight:bold;">PART IV: ITEM 15. FINANCIAL STATEMENT SCHEDULES AND EXHIBITS</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:174%;text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:174%;text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">PART IV: ITEM 15. FINANCIAL STATEMENT SCHEDULES AND EXHIBITS </font></div><div style="line-height:174%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">EXHIBIT-10.1</font></div><div style="line-height:174%;text-align:center;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">First Merchants Corporation</font></div><div style="line-height:174%;text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">Senior Management Incentive </font></div><div style="line-height:174%;text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">Compensation Program</font></div><div style="line-height:174%;text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">Approved February 13, 2017</font></div><div style="line-height:174%;text-align:center;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:174%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">I.</font></div></td><td style="vertical-align:top;"><div style="line-height:174%;text-align:left;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">Purpose</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div></td></tr></table><div style="line-height:174%;text-align:justify;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:174%;text-align:justify;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">The Board of Directors of First Merchants Corporation (FMC) has established an executive compensation program, which is designed to closely align the interests of executives with those of our shareholders by rewarding senior managers for achieving short-term and long-term strategic management and earnings goals, with the ultimate objective of obtaining a superior return on the shareholders&#8217; investment.</font></div><div style="line-height:174%;text-align:justify;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:174%;font-size:8pt;padding-left:0px;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">II.</font></div></td><td style="vertical-align:top;"><div style="line-height:174%;text-align:justify;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;font-weight:bold;">Administration</font></div></td></tr></table><div style="line-height:174%;text-align:justify;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;"><br></font></div><div style="line-height:174%;text-align:justify;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">This plan will be administered solely by the Compensation and Human Resources Committee (Committee) of FMC, with supporting documentation and recommendations provided by the Chief Executive Officer (CEO) of FMC. The Committee will annually review the targets for applicability and competitiveness. </font></div><div style="line-height:174%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:justify;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">The Committee will have the authority to: (a) modify the formal plan document; (b) make the final award determinations; (c) set conditions for eligibility and awards; (d) define extraordinary accounting events in calculating earnings; (e) establish future payout schedules; (f) determine circumstances/causes for which payouts can be withheld; and (g) abolish the plan. No payout will be earned unless and until it is formally approved by the Committee.</font></div><div style="line-height:174%;text-align:justify;padding-left:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:174%;text-align:justify;padding-left:48px;font-size:8pt;"><font style="font-family:Arial;font-size:8pt;">Any award or payout made to a participant who is an &#8220;executive officer&#8221; of First Merchants