EXHIBIT 10.1


                             FIRST AMENDMENT TO THE
                         C&D TECHNOLOGIES SAVINGS PLAN

     WHEREAS,   C&D   Technologies,   Inc.  (the  "Sponsor")   adopted  the  C&D
Technologies  Savings  Plan (the  "Plan"),  most  recently  amended and restated
effective October 1, 1997; and

     WHEREAS, the Sponsor desires to amend the Plan.

     NOW, THEREFORE, the Sponsor amends the Plan as follows, effective August 1,
1998:

     1. The Preamble is hereby amended by adding the following paragraph to read
as follows:

     Effective  August 1, 1998, the Power  Convertibles  Corporation  Retirement
     Savings Plan and Trust is hereby merged into and made a part of the Plan.

     2. Section 1.1 is amended by the addition of a definition  of  "Predecessor
Employer" reading as follows:

     A "PREDECESSOR EMPLOYER" means Power Convertibles Corporation.

     3.  Section 2.2 of the Plan is amended and restated in its entirety to read
as follows:

     A person shall be credited  with an Hour of Service for each hour for which
     he is paid, or entitled to payment,  for the  performance  of duties for an
     Employer, a Related Company or any Predecessor Employer.

     4. Section 13.5 is amended by deleting the fourth  indented  paragraph with
respect  to  restrictions  on  withdrawals   from  the  Rollover   Contributions
Sub-Account.

     5.  Section 6.11 is amended by the  addition of the  following  immediately
preceding the last paragraph therein:

          A Participant's  vested interest in the portion of his  Profit-Sharing
          and Matching Contributions Sub-Accounts that is attributable to assets
          transferred  to the  Plan  as a  result  of the  merger  of the  Power
          convertibles  Corporation  Retirement  Savings Plan and Trust into the
          Plan effective August 1, 1998 shall be 100% vested.




     IN WITNESS WHEREOF,  the sponsor has executed this instrument this 28th day
of December, 1998.

                                             C&D TECHNOLOGIES, INC.


                         By:    /s/ Stephen E. Markert, Jr.
                                ---------------------------
                         Title: VP - CFO
                                ---------------------------