Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On February 7, 2013, Guaranty Federal Bancshares, Inc. (the "Company") entered into incentive compensation arrangements with respect to bonuses payable in 2013 for Executive Officers Shaun A. Burke, President and Chief Executive Officer, Carter Peters, Chief Financial Officer, Robin Robeson, Chief Operating Officer, H. Michael Mattson, Chief Lending Officer and Sheri Biser, Chief Credit Officer. The written description of each plan is attached hereto as Exhibits 10.1 through 10.5.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

10.1 Written Description of 2013 Executive Incentive Compensation Annual Plan - President and Chief Executive Officer

10.2 Written Description of 2013 Executive Incentive Compensation Annual Plan - Chief Financial Officer

10.3 Written Description of 2013 Executive Incentive Compensation Annual Plan - Chief Operating Officer

10.4 Written Description of 2013 Executive Incentive Compensation Annual Plan - Chief Lending Officer

10.5 Written Description of 2013 Executive Incentive Compensation Annual Plan - Chief Credit Officer

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