Director Fee Arrangements for Fiscal 2023 – Southern Missouri Bancorp, Inc. and Southern Bank
This document outlines the compensation for directors of Southern Missouri Bancorp, Inc. and Southern Bank for fiscal year 2023. Each director of the Company and the Bank receives a monthly fee of $1,250 for board service. Additionally, three non-employee Company directors receive an extra $1,000 per month for serving on the Bank’s regional loan approval committees. Matthew T. Funke serves only as a director of the Bank, not the Company. The agreement specifies the payment structure for board and committee service during the fiscal year.
EXHIBIT 10.2
Director Fee Arrangements for Fiscal 2023
Each director of Southern Missouri Bancorp, Inc. (the "Company"), also is a director of Southern Bank (the "Bank") with the exception of Matthew T. Funke, President and Chief Administrative Officer who serves as a director of the Bank but is not also a director of the Company. For Fiscal 2023, each director of the Company received a monthly fee of $1,250 for serving on the Company's Board of Directors and each director of the Bank received $1,250 for serving on the Bank’s Board of Directors.
Three non-employee Company directors received a monthly fee of $1,000 for service on regional loan approval committees for the Bank.
