First Financial Corporation has announced new employment agreements for key executives, effective July 1, 2025. The agreements, applicable to Senior Vice Presidents Rodger A. McHargue, Stephen P. Panagouleas, and Mark A. Franklin, guarantee an initial employment term of 24 months, with potential for one-year extensions. Effective January 1, 2025, the executives will receive annual base salaries, with the possibility of adjustments. The agreements also include bonus opportunities and participation in fringe benefit plans. Additionally, the contracts feature confidentiality, non-solicitation, and non-compete clauses, restricting competition within specific radii around Terre Haute and Bloomington, Indiana, for up to a year post-termination. These measures underscore First Financial Corporation's commitment to securing its leadership team for ongoing success.
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