CHANGE IN CONTROL SEVERANCE AGREEMENT
THIS CHANGE IN CONTROL SEVERANCE AGREEMENT ("Agreement") entered into this 1st day of
January, 2000 ("Effective Date"), by and between Third Federal Savings Bank (the "Savings Bank") and Kent C.
Lufkin (the "Employee").
WHEREAS, the Employee is currently employed by the Savings Bank as Senior Vice President and Retail
Banking Officer and is experienced in all phases of the business of the Savings Bank; and
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 the Senior Vice President and Retail Banking
Officer 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
President or 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
3. Termination of Employment in Connection with or Subsequent to a Change in Control.