On November 26, 2018, Guaranty Federal Bancshares, Inc. notified H. Charles Puls, the xompany’s Chief Lending Officer, of the termination of his employment. Pursuant to the provisions of Mr. Puls’s Employment Agreement dated June 26, 2016, his termination will be effective on January 25, 2019, upon expiration of the 60-day notice period applicable to a termination without cause. Following the effective date of his termination, Mr. Puls will be entitled to severance equal to six months of his base salary.