2015 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 2015 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 bonus eligibility. William V. Turner and Joseph W. Turner are entitled to annual cash bonuses based on a percentage of the company's pre-tax net income, as specified in their employment agreements. Other executives may receive bonuses of up to 15.75% of their base salary, determined by company earnings per share and individual performance.

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EX-10.7 2 ex10-7.htm CURRENT NAMED EXECUTIVE OFFICER SALARY AND BONUS ARRANGEMENTS FOR 2015
Exhibit 10.7

Current Named Executive Officer Salary and Bonus Arrangements for 2015

Base Salaries

The base salaries for 2015 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
  
$
306,599
  
President and Chief
  
Executive Officer of the
  
Company and the Bank
  
       
Rex A. Copeland
  
$
267,577
  
Treasurer of the Company
  
and Senior Vice President and
  
Chief Financial Officer of the Bank
  
       
Steven G. Mitchem
  
$
251,449
  
Senior Vice President and Chief
  
Lending Officer of the Bank
  
       
Douglas W. Marrs
  
$
148,057
  
Secretary of the Company and
  
Secretary, Vice President – Operations
  
of the Bank
  
       
Linton J. Thomason
  
$
137,860
  
Vice President–Information Services
  
of the Bank
  
       

Description of Bonus Arrangements

Pursuant to their employment agreements with the Company, each of Messrs. William V. Turner and Joseph W. Turner is entitled to an annual cash bonus equal to one-half of one percent of the Company's pre-tax net income.  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 7.5% based on the officer's individual performance.