SMBC Southern Missouri Bancorp Inc

(e)Compensatory Arrangements of Certain Officers

On April 20, 2021, Southern Bank (the “Bank”), the wholly owned banking subsidiary of Southern Missouri Bancorp, Inc. (the “Company”) entered into a severance agreement (the “Severance Agreement”) with its Chief Credit Officer, Mark Hecker, a named executive officer of the Company. The Severance Agreement supersedes and replaces Mr. Hecker's previous severance agreement with the Bank, dated November 7, 2019.

The Severance Agreement has a term that initially expires on December 31, 2021. On each December 31^st thereafter, the term of the Severance Agreement is extended for a period of one additional year unless either the Bank or Mr. Hecker has given notice to the other party in writing at least 60 days prior to such annual renewal date that the term of the Severance Agreement will not be extended. Provided, however, if a change in control occurs during the term of the Severance Agreement, then the remaining term of the agreement shall be automatically extended until the one-year anniversary of the completion of the change in control.

Under the Severance Agreement, if Mr. Hecker’s employment is terminated in connection with or within one year following a change in control (1) by the Bank other than for cause, disability, retirement or as a result of Mr. Hecker’s death or (2) by Mr. Hecker for Good Reason as defined in the Severance Agreement, Mr. Hecker will be entitled to receive in a lump sum within five business days following the date of termination, a cash severance amount equal to one and one half times his base amount as defined in Section 280G of the Internal Revenue Code. In addition, Mr. Hecker will receive for an eighteen month period or (2) until the date of Mr. Hecker’s full time employment with another employer at no cost to Mr. Hecker, the continued participation by Mr. Hecker (including Mr. Hecker’s dependents who are covered by the Bank at the time of termination) in all group insurance, life insurance, health, dental, vision and accident insurance and disability insurance plans offered by the Bank in which Mr. Hecker and his covered dependents were participating immediately prior to the date of termination of employment.

In the event that the continued participation of Mr. Hecker and his covered dependents in any group insurance plan is barred or would trigger the payment of an excise tax under Section 4980D of the Internal Revenue Code then the Bank will either (1) arrange to provide Mr. Hecker and his or her covered dependents with alternative benefits substantially similar to those which he currently receives provided the alternative benefits do not trigger the payment of an excise tax or (2) pay to Mr. Hecker within 10 business days following the termination, a lump sum cash amount equal to the projected cost of the benefits to the Bank until the eighteen month anniversary date of the date of termination of employment.

If the payment and benefits Mr. Hecker has the right to receive from the Bank would constitute a “parachute payment” under Section 280G of the Internal Revenue Code, then the