Director Fee Arrangements for Fiscal 2020 – 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 2020. Each director receives a monthly fee of $900 for serving on the Company's Board and $1,100 for serving on the Bank's Board. Additionally, three directors receive $1,000 per month for serving on regional loan approval committees for the Bank. The agreement specifies the payment structure for board and committee service during the fiscal year.
EXHIBIT 10.2
Director Fee Arrangements for Fiscal 2020
Each director of Southern Missouri Bancorp, Inc. (the "Company"), also is a director of Southern Bank (the "Bank"). For Fiscal 2020, each director receives a monthly fee of $900 for serving on the Company's Board of Directors and $1,100 for serving on the Bank's Board of Directors. Three Company directors receive a monthly fee of $1,000 for service on regional loan approval committees for the Bank.
