First Merchants Corporation Non-Employee Director Compensation Schedule (2021)

Summary

This document outlines the compensation schedule for non-employee members of the Board of Directors of First Merchants Corporation, effective January 1, 2021. It specifies annual retainers and supplemental fees for board and committee service, including additional compensation for chair roles. Compensation is paid partly in cash and partly in company stock. The schedule was adopted by the Board on February 9, 2021.

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.