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

(b) Effective January 17, 2013, the employment of Floyd P. Haggar, who had served as Senior Vice President of 3rd Fed Bank, terminated.

On January 31, 2013, the Company, the Bank and Floyd P. Haggar subsequently entered into an Agreement and General Release (the "Release"). Under the terms of the Release, Mr. Haggar agreed, among other things, not to compete with the Company or the Bank within ten miles of any of their offices or branches and not to solicit their customers, clients or suppliers to alter their business relationships with the Company or the Bank in a manner detrimental to the Company or the Bank, in each case through December 31, 2013. In addition, Mr. Haggar agreed to waive any potential claims he may have against the Company or the Bank arising out of his employment with the Bank. As consideration for the foregoing, the Company agreed to pay Mr. Haggar an aggregate of $40,000, payable over several months.

The foregoing summary of the Release does not purport to be complete and is qualified in its entirety by reference to the Release, a copy of which is attached hereto as Exhibit 10 and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit 10 - Agreement and General Release, dated January 31, 2013, between TF Financial Corporation, 3rd Fed Bank and Floyd P. Haggar.

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