Exhibit 10.1
    

    
      AMENDMENT NO. 1 TO EMPLOYMENT AGREEMENT
    

    
                This Amendment No. 1 to Amended and Restated Executive
      Employment Agreement (“Amendment No. 1”) is effective as of March 31,
      2015, by and between Four Oaks Bank & Trust Company (the “Bank”)
      and Ayden R. Lee, Jr. (“Employee”).
    

    
                WHEREAS, Employee is currently employed with the Bank pursuant
      to that certain Amended and Restated Executive Employment Agreement
      entered into as of December 11, 2008, between the Bank and Employee (as
      amended, restated, supplemented or otherwise modified from time to time,
      the “Employment Agreement”); and
    

    
                WHEREAS, the parties to the Employment Agreement desire to
      amend the Employment Agreement as provided in this Amendment No. 1 to
      reflect a change in position for Employee.
    

    
                NOW, THEREFORE, in consideration of the mutual covenants and
      agreements set forth below and other good and valuable consideration,
      the receipt and sufficiency of which are hereby acknowledged, the
      parties hereto agree that the Employment Agreement shall be amended as
      follows:
    

    
      1.  Amendment.
    

    
      A.  The Recitals are amended by deleting all references to “Chief
      Executive Officer and President” and replacing them with “Chief
      Executive Officer”:
    

    
      B.  Section 1 “Employment” is
      amended by deleting that Section in its entirety and replacing it with
      the following:
    

    
      1. Employment. Employee shall serve the Bank as
      Chief Executive Officer with such duties, responsibilities and
      authorities of such office as may be assigned to him and as are
      customarily associated with such office.
    

    
      2.  Counterparts.  This Amendment No. 1 may be executed
      in counterparts, each of which shall be an original, with the same
      effect as if the signatures affixed thereto were upon the same
      instrument.
    

    
      3.  Effect of Amendment.  Except as amended hereby, the
      Employment Agreement shall remain in full force and effect and is hereby
      ratified and confirmed in all respects by the parties to the Employment
      Agreement.
    

    
      [Signature Page Follows]
    

    
      
        

        

      

      
        

        

        
          


        

      

      
        

        

      

    

    

    

    
      IN WITNESS WHEREOF, this Amendment No. 1 has been duly executed
      as of the day and year set forth above.
    


    	
           
        	
          
            EMPLOYEE
          

        
	

        	
           
        
	

        	
           
        
	

        	
          
            /s/ Ayden R. Lee, Jr.
          

        
	

        	
          
            Ayden R. Lee, Jr.
          

        
	

        	
           
        
	

        	
           
        
	

        	
          
            FOUR OAKS BANK & TRUST COMPANY
          

        
	

        	
           
        
	

        	
           
        
	

        	
          
            By: /s/ David Rupp
          

        
	

        	
          
            Name: David Rupp
          

        
	

        	
          
            Title:  Authorized Officer
          

        


    

    
      

      

      

      Signature Page to Amendment No. 1 to
Amended and Restated Executive
      Employment (Ayden R. Lee, Jr.)