First Financial signs new CEO employment agreement with Norman Lowery; base salary $650K

FIRST FINANCIAL CORP /IN/

New 24-month employment agreement for President/CEO Norman D. Lowery effective July 1, 2024.
Annual base salary set at $650,000; target short-term bonus 60% and long-term incentive 80% of base.
Term extends to June 30, 2026, with possible one-year extensions by Compensation Committee.
Provides non-compete (75-mile radius) and non-solicit covenants for one year post-termination.
Change-in-control provision offers enhanced severance up to 2.99x base plus bonus.

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