2020 Executive Officer Salary and Bonus Arrangements for Great Southern Bancorp, Inc. and Great Southern Bank

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the 2020 base salaries and bonus arrangements for executive officers of Great Southern Bancorp, Inc. and Great Southern Bank. It lists the annual base salaries for each named executive officer. Joseph W. Turner, the President and CEO, is entitled to an annual cash bonus equal to 1% of the company's pre-tax earnings. Other executives may receive a cash bonus of up to 15.75% of their base salary, based on company performance and individual achievement. William V. Turner is not eligible for an annual cash bonus under his employment agreement.

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EX-10.7 4 ex10-7.htm CURRENT NAMED EXECUTIVE OFFICER SALARY AND BONUS ARRANGEMENTS FOR 2020

Exhibit 10.7

Current Named Executive Officer Salary and Bonus Arrangements for 2020

Base Salaries

The base salaries for 2020 for the following executive officers of Great Southern Bancorp, Inc. (the "Company") and Great Southern Bank (the "Bank") currently are as follows:

Name and Title
  
Base Salary
  
   
       
William V. Turner
  
$
200,000
  
Chairman of the Board of
  
the Company and the Bank
  
       
Joseph W. Turner
  
$
380,055
  
President and Chief
  
Executive Officer of the
  
Company and the Bank
  
       
Rex A. Copeland
  
$
355,354
  
Treasurer of the Company
  
and Senior Vice President and
  
Chief Financial Officer of the Bank
  
       
Kevin L. Baker
  
$
331,061
  
Vice President and Chief
  
Credit Officer of the Bank
  
       
John M. Bugh
  
$
330,046
  
Vice President and Chief
  
Lending Officer of the Bank
  
       
Douglas W. Marrs
  
$
196,193
  
Secretary of the Company and
  
Secretary, Vice President – Operations
  
of the Bank
  
       
Linton J. Thomason
  
$
184,543
  
Vice President–Information Services
  
of the Bank
  
       

Description of Bonus Arrangements

Pursuant to his employment agreement with the Company, Mr. Joseph W. Turner is entitled to an annual cash bonus equal to one percent of the Company's fiscal year pre-tax earnings.  Mr. William V. Turner is not entitled to an annual cash bonus pursuant to his employment agreement.  For certain executive officers whose bonus arrangements are not governed by contract, the Company has maintained an incentive bonus arrangement under which the officers may earn a cash bonus of up to 15.75% of the officer's annual base salary, with up to 8.25% based on the extent to which the Company achieves targeted earnings per share results and up to 7.50% based on the officer's individual performance.