Exhibit 10.8
Named Executive Officer Salary and Bonus Arrangements for 2006
Base Salaries
The base salaries for 2006 for the executive officers (the "named executive officers") of Great Southern Bancorp, Inc. (the "Company") and Great Southern Bank (the "Bank") who will be named in the compensation table that will appear in the Company's upcoming 2006 annual meeting proxy statement are as follows:
| Name and Title | Base Salary |
| William V. Turner | $200,000(1) |
| Chairman of the Board of | |
| the Company and the Bank | |
| Joseph W. Turner | $220,000 |
| President and Chief | |
| Executive Officer of the | |
| Company and the Bank | |
| Rex A. Copeland | $164,800 |
| Treasurer of the Company | |
| and Senior Vice President and | |
| Chief Financial Officer of the Bank | |
| Steven G. Mitchem | $164,800 |
| Senior Vice President and Chief | |
| Lending Officer of the Bank | |
| Douglas W. Marrs | $ 98,262 |
| Vice President -- Operations of the Bank | |
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(1) During 2006, William V. Turner will also receive payments of salary previously deferred totaling approximately $25,000.
Description of Bonus Arrangements
For 2006, William V. Turner waived his right (as he did in 2005) to receive the annual cash bonus provided for in his employment agreement (one-half of one percent of the Company's pre-tax net income). For 2006, the annual cash bonus payable to Joseph W. Turner under his employment agreement will be three-fourths of one percent of the Company's pre-tax net income. For 2006, as for 2005, each of Messrs. Copeland, Mitchem and Marrs, along with the other executive officers of the Company and the Bank, will be eligible for a cash bonus of up to 15% of base annual salary, with one half of this possible bonus payable if the Company achieves targeted growth in earnings per share for 2006 and one-half of the possible bonus awarded based on individual performance in 2006.
