First Merchants Corporation non-employee director compensation schedule adopted February 9, 2021
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EX-10.1 2 exhibit10110q2021q1.htm EX-10.1 Document
PART II: OTHER INFORMATION
ITEM 6. EXHIBITS
EXHIBIT-10.1
First Merchants Corporation
Non-Employee Director Compensation Schedule
Adopted by Board of Directors on February 9, 2021
Effective as of January 1, 2021, the following fees shall be paid to the non-employee members of the Board of Directors of First Merchants Corporation:
| Service | Annual Amount | Increase from Prior | ||||||||||||
| Board Retainer | $ | 115,000 | $ | 20,000 | ||||||||||
| Audit Committee Retainer | 5,000 | 5,000 | ||||||||||||
| Risk and Credit Policy Committee Retainer | 5,000 | |||||||||||||
| Board Chair Supplemental Fee | 50,000 | |||||||||||||
| Committee Chair Supplemental Fee: | ||||||||||||||
| Audit | 15,000 | * | ||||||||||||
| Compensation and Human Resources | 10,000 | |||||||||||||
| Risk and Credit Policy | 10,000 | |||||||||||||
| Nominating and Governance | 7,500 | |||||||||||||
•Committee Chair does not also receive committee retainer. | ||||||||||||||
All non-employee Director compensation shall be paid 3/8 in cash and 5/8 in shares of First Merchants Corporation common stock.
