SEC Contract Filing

Filing Date: 2023-10-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tmb-20231017xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 10.4.105.0--><!--Created on: 10/20/2023 08:20:57 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;font-weight:bold;line-height:1.19;text-align:center;text-transform:uppercase;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;text-decoration-line:underline;text-decoration-style:solid;">EMPLOYMENT AGREEMENT</b></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">THIS EMPLOYMENT AGREEMENT</b><font style="font-family:'Times New Roman','Times','serif';"> (the &#8220;Agreement&#8221;), entered into on the 20th&#160;day of October, 2023 (the &#8220;Effective Date&#8221;), by and between First Financial Bank, N.A. (the &#8220;Bank&#8221;), a national banking association organized under the laws of the United States of America, First Financial Corporation (the &#8220;Corporation&#8221;), a corporation formed under the laws of the State of Indiana and a financial holding company (jointly referred to herein as the &#8220;Company&#8221;) and Norman L. Lowery (the &#8220;Employee&#8221;), a resident of the State of Indiana.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">WHEREAS</b><font style="font-family:'Times New Roman','Times','serif';">, the Company and Employee are parties to an Employment Agreement dated July&#160;26, 2022;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">WHEREAS</b><font style="font-family:'Times New Roman','Times','serif';">, the Employee currently serves each of the Bank and Corporation as its President and Chief Executive Officer and as a member and Chairman of the board of directors; </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;letter-spacing:-0.1pt;">WHEREAS</b><font style="font-family:'Times New Roman','Times','serif';letter-spacing:-0.1pt;">, as part of the Company&#8217;s succession planning for its senior executive officers, Employee and the Company have discussed from time to time Employee&#8217;s plans regarding his continuing service to the Company and to ensuring a successful transition to a successor President and Chief Executive Officer; </font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;letter-spacing:-0.1pt;">WHEREAS</b><font style="font-family:'Times New Roman','Times','serif';letter-spacing:-0.1pt;">, as a result of such process, the Company and Employee have determined it to be in the best interest of the Company and Employee for Employee to continue to serve as President and Chief Executive Officer from the Effective Date through December&#160;31, 2023, the &#8220;CEO Period&#8221;) and to transition to the successor President and Chief Executive Officer effective as of January&#160;1, 2024;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;letter-spacing:-0.1pt;">WHEREAS</b><font style="font-family:'Times New Roman','Times','serif';letter-spacing:-0.1pt;">, the Company has also determined it to be in the best interest of the Company to secure Employee&#8217;s continuing service to the Company as Executive Chairman for the period commencing January&#160;1, 2024 through December&#160;31, 2024 (the &#8220;EC Period&#8221;), and as a member and Chairman of the Board thereafter, to ensure a successful transition; &#160;</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;letter-spacing:-0.1pt;">WHEREAS</b><font style="font-family:'Times New Roman','Times','serif';">, </font><font style="font-family:'Times New Roman','Times','serif';letter-spacing:-0.1pt;">the Company desires to enter into this Agreement with the Employee in order to set forth the terms and conditions applicable to Employee&#8217;s employment to assure continuity of management and to reinforce and encourage the continued attention and dedication of the Employee to his assigned duties; and</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:12pt;line-height:1.19;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-family:'Times New Roman','Times','serif';font-weight:bold;">WHEREAS</b><font style="font-family:'Times New Roman','Times','serif';">, the parties desire, by this writing, to set forth the continuing employment relationship between the Company and the Employee.</font></p><p style="font-family:'Calibri','Helvetica','sans-serif';font-size: