2025 Executive Officer Salary and Bonus Arrangements for Great Southern Bancorp, Inc. and Great Southern Bank
This document outlines the 2025 base salaries and bonus arrangements for executive officers of Great Southern Bancorp, Inc. and Great Southern Bank. It lists the annual base salaries for six named executives and details their eligibility for cash bonuses. Bonus amounts are tied to company pre-tax earnings, targeted earnings per share, and individual performance, with specific percentages and eligibility varying by executive. The agreement sets clear compensation terms for the upcoming year but does not establish new contractual obligations beyond those already in place.
Exhibit 10.7
Current Executive Officer Salary and Bonus Arrangements for 2025
Base Salaries
The base salaries for 2025 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 | | $461,492 |
President and Chief | | |
Executive Officer of the | | |
Company and the Bank | | |
| | |
Rex A. Copeland | | $508,305 |
Treasurer of the Company | | |
and Senior Vice President and | | |
Chief Financial Officer of the Bank | | |
| | |
Kevin L. Baker | | $508,305 |
Vice President and Chief | | |
Credit Officer of the Bank | | |
| | |
John M. Bugh | | $508,305 |
Vice President and Chief | | |
Lending Officer of the Bank | | |
| | |
Mark A. Maples | | $195,700 |
Vice President and Chief Operations | | |
Officer 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 under his employment agreement. Mr. Rex A. Copeland does not have a bonus arrangement governed by contract; however, the Company has established an annual cash bonus for Mr. Copeland equal to 0.06 percent of the Company’s fiscal year pre-tax earnings. Additionally, Mr. Copeland may earn a separate cash bonus of up to 10.63 percent of his annual base salary based on the extent to which the Company achieves targeted earnings per share results. Mr. Kevin L. Baker and Mr. John M. Bugh do not have bonus arrangements governed by contract; however, they each may earn a cash bonus of up to 10.63 percent of their annual base salary based on the extent to which the Company achieves targeted earnings per share results. Mr. Mark A. Maples does not have a bonus arrangement governed by contract; however, the Company maintains an incentive bonus arrangement under which he and certain other officers may earn a cash bonus of up to 19.13 percent of their annual base salary, with up to 10.63 percent based on the extent to which the Company achieves targeted earnings per share results and up to 8.50 percent based on the officer’s individual performance.
