First Financial enters new CEO employment agreement with Norman Lowery

FIRST FINANCIAL CORP /IN/

New agreement effective July 1, 2025, with initial 24-month term; compensation committee may extend annually.
Base salary of $675,350 per annum; target short-term bonus at least 60% of base; long-term incentive at least 80% of base.
Change-in-control severance: 2.99x base salary plus prior year bonus, plus three years benefit reimbursement.
Non-compete restricted to 75-mile radius of Terre Haute (50 miles if terminated without cause or for good reason).
Contains standard confidentiality, non-solicit, and Section 280G parachute payment limitation provisions.

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