SEC Contract Filing

Filing Date: 2025-07-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>fdsb-20250714xex10d1.htm
<DESCRIPTION>EX-10.1
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 11.0.0.141--><!--Created on: 7/16/2025 06:00:38 PM (UTC)--><html><head><meta charset="UTF-8"><title>Burns, Melissa_2025 Amendment</title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:10.35%;padding-right:10.35%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Exhibit&#160;10.1</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">FIRST AMENDMENT TO THE</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">FIFTH DISTRICT SAVINGS BANK</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">SECOND AMENDED &amp; RESTATED EXECUTIVE SALARY CONTINUATION AGREEMENT FOR</b><b style="font-weight:bold;"><br></b><b style="font-weight:bold;">MELISSA BURNS</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:41.35pt;margin:0pt 5.7pt 12pt 0pt;"><b style="font-weight:bold;">THIS FIRST AMENDMENT </b>(&#8220;First Amendment&#8221;) is made and entered into July 14, 2025, by and between Fifth District Savings Bank (the &#8220;Bank&#8221;), a federal savings bank, and Melissa Burns (the &#8220;Executive&#8221;).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">RECITALS:</b></p><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:41.35pt;margin:0pt 1pt 12pt 0pt;"><font style="display:inline-block;font-size:11pt;min-width:30.65pt;text-indent:0pt;white-space:nowrap;">A.</font>The<font style="letter-spacing:-0.35pt;"> </font>parties<font style="letter-spacing:-0.45pt;"> </font>adopted<font style="letter-spacing:-0.6pt;"> </font>the<font style="letter-spacing:-0.5pt;"> </font>Fifth<font style="letter-spacing:-0.4pt;"> </font>District<font style="letter-spacing:-0.4pt;"> </font>Savings<font style="letter-spacing:-0.5pt;"> </font>Bank<font style="letter-spacing:-0.5pt;"> </font>Second<font style="letter-spacing:-0.6pt;"> </font>Amended<font style="letter-spacing:-0.5pt;"> </font>&amp;<font style="letter-spacing:-0.35pt;"> </font>Restated<font style="letter-spacing:-0.35pt;"> </font>Executive Salary Continuation Agreement (the &#8220;Agreement&#8221;) on February 29,<font style="letter-spacing:-0.1pt;"> </font>2024.</div><div style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-left:41.3pt;margin-top:0pt;padding-left:8.2pt;text-indent:-8.2pt;"><font style="display:inline-block;font-size:11pt;min-width:30.7pt;text-indent:0pt;white-space:nowrap;">B.</font>The Agreement may be amended in accordance with Section<font style="letter-spacing:0.1pt;"> </font>5.1.</div><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:0pt;margin-top:0.05pt;table-layout:fixed;width:100%;border:0pt;"><tr><td style="width:41.3pt;"></td><td style="font-family:'Times New Roman','Times','serif';font-size:11pt;vertical-align:text-top;white-space:nowrap;width:30.7pt;padding:0pt;">C.</td><td style="padding:0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">The parties desire to amend the Agreement to increase the Executive&#8217;s Retirement</font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;letter-spacing:-0.9pt;"> </font><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">Benefit;</font></td></tr></table><div style="margin-top:12pt;"></div><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 41.35pt;"><b style="font-weight:bold;">NOW, THEREFORE</b>, the Agreement is hereby amended as follows:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 41.35pt;"><i style="font-style:italic;">Section 1.18 is replaced in its entirety with the following:</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36.1pt;margin:0pt 31.05pt 12pt 41.35pt;"><font style="display:inline-block;text-indent:0pt;width:36.05pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">1.18</font></font><b style="font-weight:bold;">&#8220;Retirement Benefit&#8221; </b>shall mean an annual amount of ninety-four thousand dollars ($94,000).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 41.35pt;"><i style="font-style:italic;">The examples in Sections 2.1, 2.3, 2.4, and 2.5 are replaced in their entirety with the following:</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0.05pt 0pt 12pt 41.35pt;">(For example: $94,000 / 12 = $7,833.33 x 180 months = $1,410,000 total benefit).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 5.75pt 12pt 5.35pt;">Except as otherwise amended by this First Amendment, all provisions of the Agreement shall remain in full force and effect and the Agreement and all amendments shall be construed together and considered one and the same agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:14.8pt;margin:1.5pt 0pt 12pt 41.35pt;"><b style="font-weight:bold;">IN WITNESS WHEREOF</b>, the parties execute this First Amendment as of the date first written above.</p><div align="left"><table