TFS Financial Corporation 2008 Equity Incentive Plan Restricted Stock Unit Award Agreement

Exhibit 10.2

TFS Financial Corporation

2008 Equity Incentive Plan

Restricted Stock Unit Award Agreement

[Director Name]

August 11, 2008

This document constitutes part of the prospectus covering

securities that have been registered under the Securities Act of 1933.

TFS Financial Corporation

2008 Equity Incentive Plan

Restricted Stock Unit Award Agreement

THIS AGREEMENT, effective as of the Date of Grant set forth below, represents a grant of Restricted Stock Units (“RSUs”) by TFS Financial Corporation, a Federal corporation (the “Company”), to the Participant named below, pursuant to the provisions of the TFS Financial Corporation 2008 Equity Incentive Plan (the “Plan”).

You have been selected to receive a grant of RSUs pursuant to the Plan, as specified below.

The Plan provides a description of the terms and conditions governing the RSUs. If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the Plan’s terms shall completely supersede and replace the conflicting terms of this Agreement. All capitalized terms used herein shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise herein.

The parties hereto agree as follows:

Participant : [Participant’s Name]

Date of Grant : August 11, 2008

Number of RSUs Granted : 50,000

Purchase Price : None

1. Service With the Company . Except as may otherwise be provided in Sections 6, 7 and 8, the RSUs granted hereunder are granted on the condition that the Participant continues to provide service to the Company as a Director from the Date of Grant through (and including) the vesting date, as set forth in Section 2 (referred to herein as the “Period of Restriction”).

This grant of RSUs shall not confer any right to the Participant (or any other Participant) to be granted in the future RSUs or other Awards under the Plan.

2. Vesting . Except as hereinafter provided, the RSUs shall vest according to the following schedule (twenty percent (20%) on the first through fifth anniversaries of the Date of Grant), provided the Participant continues to provide service as a Director of the Company through such anniversary or anniversaries.

1

3. Timing of Payout . Payout of all RSUs shall occur as soon as administratively feasible after vesting, but in no event later than sixty (60) days after vesting.

4. Form of Payout . Vested RSUs will be paid out solely in the form of shares of Stock of the Company.

5. Dividend Equivalent and Voting Rights . During the Period of Restriction and pending the vesting and payout of any RSUs under Sections 2 and 3 above, Participant shall be entitled to Dividend Equivalent Rights in the form of a cash payment from the Company equal in value to the amount of any cash dividend paid per share of Stock by the Company, multiplied by the number of shares of Stock underlying the RSUs. The Dividend Equivalent Rights shall be paid out in accordance with the normal Company procedures for paying cash dividends and further, shall not be subject to any conditions or restrictions with respect to the underlying RSUs to which they relate. The Participant shall not have voting rights with respect to the RSUs.

6. Termination of Service by Death, Disability, or Retirement . In the event the service of the Participant as a Director of the Company is terminated by reason of death, Disability (as defined by the U.S. Social Security Administration), or Retirement, all RSUs held by the Participant at the date of termination and still subject to the Period of Restriction shall immediately become fully vested as of the date of termination. For purposes of this Award Agreement, “Retirement” shall be defined as attaining age seventy-two (72).

7. Termination of Service for Other Reasons . If the service of the Participant as a Director of the Company shall terminate for any reason other than the reasons set forth in Section 6, all RSUs held by the Participant at the date of term