Company: NECB
Filing Date: 2025-06-23
Form Type: 11-K
Source: 0001104659-25-061580
Chunk: 5

Company: NorthEast Community Bancorp, Inc./MD/
Filing Date: 2025-06-23
Form: 11-K
Chunk 5
---
 of compensation for new employees
who do not opt out. Participants who are automatically enrolled are also automatically increased by 1% annually up to 5%. Participants
may also contribute funds from another qualified retirement plan (“rollover contributions”), subject to certain requirements.

The Company may make discretionary non-elective
contributions. Participants must work at least 1,000 hours during the plan year and be employed on the last day of the plan year to be
eligible for discretionary non-elective contributions. No discretionary non-elective contributions were made during 2024.

Each participant’s account is
credited or charged with contributions, investment income, and administrative expenses. Investment income, including realized and unrealized
gains and losses, and expenses are allocated to participant’s accounts based on each participant’s account balance within
each fund. Participants determine the percentage in which contributions are to be invested in each fund. Participants may change their
investment options as set forth in the plan document. The benefit to which a participant is entitled is the benefit that can be provided
from the participant's vested account.

Participants are fully vested in that
portion of their account which represents their contributions and the income earned thereon. Participants become 100% vested in the Company’s
contributions and earnings thereon upon death, total and permanent disability, or attainment of normal retirement age. Otherwise, a participant’s
interest in the Company’s contributions and earnings thereon vests according to the following:

<div align='center'>-4-

NORTHEAST COMMUNITY BANK EMPLOYEES’

SAVINGS & PROFIT SHARING PLAN AND TRUST

NOTES TO FINANCIAL STATEMENTS</div>

| Completed Years of Service |     | Percent Vested |     |   |
| 1 year                     |     |                |   0 | % |
| 2 years                    |     |                |  20 | % |
| 3 years                    |     |                |  40 | % |
| 4 years                    |     |                |  60 | % |
| 5 years                    |     |                |  80 | % |
| 6 years                    |     |                | 100 | % |

When certain terminations of participation
in the Plan occur, the nonvested portion of a participant’s account represents a forfeiture, as defined by the Plan. If a forfeiting
participant is re-employed and fulfills certain requirements, as set forth in the Plan, the participant’s account will be restored.