CHANGE IN CONTROL SEVERANCE AGREEMENT
As Amended on December 31, 1998
THIS CHANGE IN CONTROL SEVERANCE AGREEMENT ("Agreement") entered into this 1 st day of
January, 1998 ("Effective Date"), by and between Third Federal Savings Bank (the "Savings Bank") and Earl A.
Pace, Jr. (the "Employee").
WHEREAS, the Employee is currently employed by the Savings Bank as a Senior Vice President and
Information Technology Systems Manager and is experienced in all phases of the business of the Savings Bank;
WHEREAS, the parties desire by this writing to set forth the rights and responsibilities of the Savings Bank and
Employee if the Savings Bank should undergo a change in control (as defined hereinafter in the Agreement) after
the Effective Date.
NOW, THEREFORE, it is AGREED as follows:
1. Employment. The Employee is employed in the capacity as a Senior Vice President and Information
Technology Systems Manager of the Savings Bank. The Employee shall render such administrative and
management services to the Savings Bank and TF Financial Corporation ("Parent") as are currently rendered and
as are customarily performed by persons situated in a similar executive capacity. The Employee's other duties
shall be such as the Board of Directors for the Savings Bank (the "Board of Directors" or "Board") may from
time to time reasonably direct, including normal duties as an officer of the Savings Bank.
2. Term of Agreement. The term of this Agreement shall be for the period commencing on the Effective Date and
ending twenty-four (24) months thereafter. Additionally, on, or before, each annual anniversary date from the
Effective Date, the term of this Agreement may be extended for an additional one year period beyond the then
effective expiration date upon a determination and resolution of the Board of Directors that the performance of
the Employee has met the requirements and standards of the Board, and that the term of such Agreement shall be
extended. Notwithstanding anything herein to the contrary, the