Common use of Acceptance by THE PARTICIPANT Clause in Contracts

Acceptance by THE PARTICIPANT. By executing this Agreement and returning a fully executed copy hereof to the Committee at the address specified in Section 9, the Participant signifies acceptance of the terms and conditions of this Plan Share Award. APPENDIX B CARVER BANCORP, INC. MANAGEMENT RECOGNITION PLAN BENEFICIARY DESIGNATION -------------------------------------------------------------------------------- IMPORTANT INFORMATION AND INSTRUCTIONS PLEASE READ CAREFULLY Use this form to designate the Beneficiary(ies) to receive your right to receive shares of common stock ("Shares") of Carver Bancorp, Inc. ("Carver") pursuant to a Plan Share Award grante▇ ▇▇ ▇ou under the Carv▇▇ ▇▇▇corp, Inc. Management Recognition Plan ("Plan") if you shou▇▇ ▇▇▇ before receiving a distribution of such shares. You should give your Beneficiary(ies) a copy of this completed form. This Beneficiary Designation should be completed and personally delivered or mailed by registered or certified mail, return receipt requested, to Carver Bancorp, Inc., 75 West 125th Street, New York, New York 10027, ▇▇▇▇▇tion: Human Reso▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇k. The effective date of the designations m▇▇▇ ▇▇rein will be the date this Beneficiary Designation is received by the Human Resources Department of Carver Federal Savings Bank. Except as specifically provided to the c▇▇▇▇▇▇y herein, capitalized terms shall have the meanings assigned to them under the Plan. This Beneficiary Designation is subject to all of the terms and conditions of the Plan. --------------------------------------------------------------------------------

Acceptance by THE PARTICIPANT. By executing this Agreement and returning a fully executed copy hereof to the Committee at the address specified in Section 9, the Participant signifies acceptance of the terms and conditions of this Plan Share Award. If a fully executed copy of this Agreement is not received by the Committee within forty-five (45) days after the later of the Grant Date or the date this Agreement is received by the Participant, the Committee may revoke the Plan Share Award, and thereby avoid all obligations hereunder. APPENDIX B CARVER ---------- ▇▇▇▇▇▇ BANCORP, INC. MANAGEMENT RECOGNITION PLAN BENEFICIARY DESIGNATION ----------------------- -------------------------------------------------------------------------------- IMPORTANT INFORMATION AND INSTRUCTIONS PLEASE READ CAREFULLY Use this form to designate the Beneficiary(ies) to receive your right to receive shares of common stock ("Shares") of Carver ▇▇▇▇▇▇ Bancorp, Inc. ("Carver▇▇▇▇▇▇") pursuant to a Plan Share Award grante▇ ▇▇ ▇ou granted to you under the Carv▇▇ ▇▇▇corp▇▇▇ Bancorp, Inc. Management Recognition Plan ("Plan") if you shou▇▇ ▇▇▇ should die before receiving a distribution of such shares. You should give your Beneficiary(ies) a copy of this completed form. This Beneficiary Designation should be completed and personally delivered or mailed by registered or certified mail, return receipt requested, to Carver Bancorp, Inc., 75 West 125th Street, New York, New York 10027, ▇▇▇▇▇tion: Human Reso▇ Bancorp, Inc., ▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇ ▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇k. , Attention: Human Resources Department. The effective date of the designations m▇▇▇ ▇▇rein made herein will be the date this Beneficiary Designation is received by the Human Resources Department of Carver Federal Savings BankDepartment. Except as specifically provided to the c▇▇▇▇▇▇y contrary herein, capitalized terms shall have the meanings assigned to them under the Plan. This Beneficiary Designation is subject to all of the terms and conditions of the Plan. --------------------------------------------------------------------------------

Acceptance by THE PARTICIPANT. By executing this Agreement and returning a fully executed copy hereof to the Committee at the address specified in Section 9, the Participant signifies acceptance of the terms and conditions of this Plan Share Award. If a fully executed copy of this Agreement is not received by the Committee within forty-five (45) days after the later of the Grant Date or the date this Agreement is received by the Participant, the Committee may revoke the Plan Share Award, and thereby avoid all obligations hereunder. APPENDIX B CARVER ---------- ▇▇▇▇▇▇ BANCORP, INC. MANAGEMENT RECOGNITION PLAN BENEFICIARY DESIGNATION -------------------------------------------------------------------------------- IMPORTANT INFORMATION AND INSTRUCTIONS PLEASE READ CAREFULLY Use this form to designate the Beneficiary(ies) to receive your right to receive shares of common stock ("Shares") of Carver ▇▇▇▇▇▇ Bancorp, Inc. ("Carver▇▇▇▇▇▇") pursuant to a Plan Share Award grante▇ ▇▇ ▇ou granted to you under the Carv▇▇ ▇▇▇corp▇▇▇ Bancorp, Inc. Management Recognition Plan ("Plan") if you shou▇▇ ▇▇▇ should die before receiving a distribution of such shares. You should give your Beneficiary(ies) a copy of this completed form. This Beneficiary Designation should be completed and personally delivered or mailed by registered or certified mail, return receipt requested, to Carver Bancorp, Inc., 75 West 125th Street, New York, New York 10027, ▇▇▇▇▇tion: Human Reso▇ Bancorp, Inc., ▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇ ▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇k. , Attention: Human Resources Department. The effective date of the designations m▇▇▇ ▇▇rein made herein will be the date this Beneficiary Designation is received by the Human Resources Department of Carver Federal Savings BankDepartment. Except as specifically provided to the c▇▇▇▇▇▇y contrary herein, capitalized terms shall have the meanings assigned to them under the Plan. This Beneficiary Designation is subject to all of the terms and conditions of the Plan. --------------------------------------------------------------------------------