2021 Executive Officer Salary and Bonus Arrangements for Great Southern Bancorp, Inc. and Great Southern Bank
This document outlines the 2021 base salaries and bonus arrangements for executive officers of Great Southern Bancorp, Inc. and Great Southern Bank. It lists the annual base salaries for named executives and describes their eligibility for cash bonuses. Joseph W. Turner is entitled to a bonus equal to 1% of the company's pre-tax earnings, while other executives may receive bonuses up to 17.85% 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.
Exhibit 10.7
Current Named Executive Officer Salary and Bonus Arrangements for 2021
Base Salaries
The base salaries for 2021 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 | $387,656 |
President and Chief | |
Executive Officer of the | |
Company and the Bank | |
| |
Rex A. Copeland | $364,238 |
Treasurer of the Company | |
and Senior Vice President and | |
Chief Financial Officer of the Bank | |
| |
Kevin L. Baker | $339,338 |
Vice President and Chief | |
Credit Officer of the Bank | |
| |
John M. Bugh | $338,297 |
Vice President and Chief | |
Lending Officer of the Bank | |
| |
Douglas W. Marrs | $201,097 |
Secretary of the Company and | |
Secretary, Vice President – Operations | |
of the Bank | |
| |
Linton J. Thomason | $189,156 |
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 17.85% of the officer's annual base salary, with up to 9.35% based on the extent to which the Company achieves targeted earnings per share results and up to 8.50% based on the officer's individual performance.
