EXHIBIT 10.1

  

  

  

  

  

  
    FORM OF AMENDMENT TO

    

    

    EMPLOYMENT AGREEMENT

    

    

    Amendment, dated as of June 28, 2021 (the “Amendment”), to the Employment Agreement, dated as of ___________  ___, 2020 (the “Agreement”), by and between Dime Community
      Bancshares, Inc., a New York corporation (the “Company”), Dime
        Community Bank, a New York chartered trust company and a wholly owned subsidiary of the Company (the “Bank”), and _____________________________ (“Executive”).  Capitalized terms which are not
      defined herein shall have the same meaning as set forth in the Agreement.

    

    

    W I T N E S S E T H:

    

    

    WHEREAS, Section 7(c)(iv) of the Agreement provides that if a Change in Control occurs within twenty-four (24) months after the Effective Date, the payments in Section 7(c) shall be reduced (but
      not below zero) by the value (determined as of the date of vesting) of any portion of the One-Time Equity Grant specified under Section 3(C) of the Retention and Award Agreement between the Executive and the Company, dated as of _______ __, ____,
      that vests as a result of such Change in Control; and

    

    

    WHEREAS, the Company, Bank and
      Executive have agreed to amend the Agreement to delete Section 7(c)(iv).

    

    

    NOW, THEREFORE, in consideration
      of the premises, the mutual agreements herein set forth and such other consideration the sufficiency of which is hereby acknowledged, the Company, Bank and Executive hereby agree as follows:

    

    

    Section 1.  Section 7(c)(iv) of the Agreement is deleted in its entirety.

    

    

    Section 2. Effectiveness.  This Amendment
      shall be deemed effective as of the date first above written, as if executed on such date.  Except as expressly set forth herein, this Amendment shall not by implication or otherwise alter, modify, amend or in any way affect any of the terms,
      conditions, obligations, covenants or agreements contained in the Agreement, all of which are ratified and affirmed in all respects and shall continue in full force and effect and shall be otherwise unaffected.

    

    

     Section 3.  Governing Law.  This Amendment
      and the rights and obligations hereunder shall be governed by and construed in accordance with the laws of the State of New York.

    

    

    Section 4.  Counterparts.  This Amendment may
      be executed in any number of counterparts, each of which shall for all purposes be deemed an original, and all of which together shall constitute but one and the same instrument.

    

    

    Section 5.  Compliance with Section 409A. 
      This Agreement shall be interpreted and administered consistent with Section 409A of the Code.

    
      
        


    

    

    

    IN WITNESS WHEREOF, the Company,
      Bank and the Executive have duly executed this Amendment as of the day and year first written above.

    

    

    DIME COMMUNITY BANCSHARES, INC.

    

    

    

    

    

    

    By:____________________________________
        

      

    

    

    

    

    DIME COMMUNITY BANK

    

    

    

    

    

    

    By:________________________________
        

      

    

    

    

    

    EXECUTIVE

    

    

    

    

    

    

    ____________________________________