Common use of SUBSCRIPTION RIGHTS OF ELIGIBLE ACCOUNT HOLDERS Clause in Contracts

SUBSCRIPTION RIGHTS OF ELIGIBLE ACCOUNT HOLDERS. (FIRST PRIORITY) A. Each Eligible Account Holder shall receive, without payment, nontransferable subscription rights to subscribe for shares of Common Stock equal to the greater of: (i) the maximum established for the Community Offering; (ii) one-tenth of one percent of the Conversion Stock offered; or (iii) 15 times the product (rounded down to the next whole number) obtained by multiplying the total number of shares of Common Stock offered by a fraction of which the numerator is the amount of the Qualifying Deposit of such Eligible Account Holder and the denominator is the total amount of Qualifying Deposits of all Eligible Account Holders but in no event greater than the maximum purchase limitation specified in Section 11 hereof. All such purchases are subject to the maximum and minimum purchase limitations specified in Section 11 and are exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Offering Range of up to 15%. Only a Person(s) with a Qualifying Deposit as of the Eligibility Record Date (or a successor entity or estate) shall receive subscription rights. Any Person(s) added to a Savings Account after the Eligibility Record Date is not an Eligible Account Holder. B. In the event that Eligible Account Holders exercise Subscription Rights for a number of shares of Common Stock in excess of the total number of such shares eligible for subscription, the shares of Common Stock shall be allocated among the subscribing Eligible Account Holders so as to permit each subscribing Eligible Account Holder, to the extent possible, to purchase a number of shares sufficient to make his or her total allocation of Common Stock equal to the lesser of 100 shares or the number of shares subscribed for by the Eligible Account Holder. Any shares remaining after that allocation will be allocated among the subscribing Eligible Account Holders whose subscriptions remain unsatisfied in the proportion that the amount of the Qualifying Deposit of each Eligible Account Holder whose subscription remains unsatisfied bears to the total amount of the Qualifying Deposits of all Eligible Account Holders whose subscriptions remain unsatisfied. If the amount so allocated exceeds the amount subscribed for by any one or more Eligible Account Holders, the excess shall be reallocated (one or more times as necessary) among those Eligible Account Holders whose subscriptions are still not fully satisfied on the same principle until all available shares have been allocated or all subscriptions satisfied. C. Subscription rights as Eligible Account Holders received by Directors and Officers and their Associates which are based on deposits made by such persons during the twelve (12) months preceding the Eligibility Record Date shall be subordinated to the Subscription Rights of all other Eligible Account Holders.

SUBSCRIPTION RIGHTS OF ELIGIBLE ACCOUNT HOLDERS. (FIRST PRIORITY) A. Each Eligible Account Holder shall receive, without payment, nontransferable subscription rights to subscribe for shares of Common Stock equal to the greater of: (i) the maximum established for the Community Offering; (ii) one-tenth of one percent of the Conversion Stock offered; or (iii) 15 times the product (rounded down to the next whole number) obtained by multiplying the total number of shares of Common Stock offered by a fraction of which the numerator is the amount of the Qualifying Deposit of such Eligible Account Holder and the denominator is the total amount of Qualifying Deposits of all Eligible Account Holders but in no event greater than the maximum purchase limitation specified in Section 11 12 hereof. All such purchases are subject to the maximum and minimum purchase limitations specified in Section 11 12 and are exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Offering Range of up to 15%. Only a Person(s) with a Qualifying Deposit as of the Eligibility Record Date (or a successor entity or estate) shall receive subscription rights. Any Person(s) added to a Savings Account after the Eligibility Record Date is not an Eligible Account Holder. B. In the event that Eligible Account Holders exercise Subscription Rights for a number of shares of Common Stock in excess of the total number of such shares eligible for subscription, the shares of Common Stock shall be allocated among the subscribing Eligible Account Holders so as to permit each subscribing Eligible Account Holder, to the extent possible, to purchase a number of shares sufficient to make his or her total allocation of Common Stock equal to the lesser of 100 shares or the number of shares subscribed for by the Eligible Account Holder. Any shares remaining after that allocation will be allocated among the subscribing Eligible Account Holders whose subscriptions remain unsatisfied in the proportion that the amount of the Qualifying Deposit of each Eligible Account Holder whose subscription remains unsatisfied bears to the total amount of the Qualifying Deposits of all Eligible Account Holders whose subscriptions remain unsatisfied. If the amount so allocated exceeds the amount subscribed for by any one or more Eligible Account Holders, the excess shall be reallocated (one or more times as necessary) among those Eligible Account Holders whose subscriptions are still not fully satisfied on the same principle until all available shares have been allocated or all subscriptions satisfied. C. Subscription rights as Eligible Account Holders received by Directors and Officers and their Associates which are based on deposits made by such persons Persons during the twelve (12) months preceding the Eligibility Record Date shall be subordinated to the Subscription Rights of all other Eligible Account Holders.

SUBSCRIPTION RIGHTS OF ELIGIBLE ACCOUNT HOLDERS. (FIRST PRIORITY) A. Each Eligible Account Holder shall receive, without payment, nontransferable subscription rights Subscription Rights to subscribe for shares purchase, subject to the further limitations of Common Stock equal Section 11 hereof, up to the greater of: of (i) the maximum established for the Community Offering; purchase limitation set forth in Section 11 hereof, (ii) one-tenth of one percent 1% of the total offering of shares of Conversion Stock offered; or in the Subscription Offering, and (iii) 15 times the product (rounded down to the next whole number) obtained by multiplying the total number of shares of Common Conversion Stock offered in the Subscription Offering by a fraction fraction, of which the numerator is the amount of the Qualifying Deposit of such the Eligible Account Holder and the denominator is the total amount of all Qualifying Deposits of all Eligible Account Holders but in no event greater than the maximum purchase limitation specified in Section 11 hereof. All such purchases are Holders, subject to the maximum and minimum purchase limitations specified in Section 11 and are exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Offering Range of up to 15%. Only a Person(s) with a Qualifying Deposit as of the Eligibility Record Date (or a successor entity or estate) shall receive subscription rights. Any Person(s) added to a Savings Account after the Eligibility Record Date is not an Eligible Account Holder14 hereof. B. In the event that Eligible Account Holders exercise Subscription Rights of an oversubscription for a number of shares of Common Conversion Stock in excess of pursuant to the total number of such provisions herein, available shares eligible for subscription, the shares of Common Stock shall be allocated among the subscribing Eligible Account Holders so as to permit each subscribing such Eligible Account Holder, to the extent possible, to purchase a number of shares sufficient to which will make his or her total allocation of Common Stock equal to the lesser of 100 shares or the number of shares subscribed for by the Eligible Account Holderor 100 shares. Any available shares remaining after that allocation will each such subscribing Eligible Account Holder has been allocated the lesser of the number of shares subscribed for or 100 shares shall be allocated among the subscribing Eligible Account Holders whose subscriptions remain unsatisfied in the proportion that the amount of which the Qualifying Deposit of each such subscribing Eligible Account Holder whose subscription remains unsatisfied bears to the total amount of the Qualifying Deposits of all such subscribing Eligible Account Holders whose subscriptions remain unsatisfied. If the amount so allocated exceeds the amount subscribed for by any one or more Eligible Account Holdersorders are unfilled, the excess provided that no fractional shares shall be reallocated (one or more times as necessary) among those issued. Subscription Rights of Eligible Account Holders whose subscriptions who are still not fully satisfied on the same principle until all available shares have been allocated also Directors or all subscriptions satisfied. C. Subscription rights as Eligible Account Holders received by Directors and Officers and their Associates which shall be subordinated to those of other Eligible Account Holders to the extent that they are based on attributable to increased deposits made by such persons during the twelve (12) months one-year period preceding the Eligibility Record Date shall be subordinated to the Subscription Rights of all other Eligible Account HoldersDate.

SUBSCRIPTION RIGHTS OF ELIGIBLE ACCOUNT HOLDERS. (FIRST PRIORITY) A. Each Eligible Account Holder shall receive, without payment, nontransferable subscription rights to subscribe for shares of Common Stock equal to the greater of: (i) the maximum established for the Community Offering; (ii) one-tenth of one percent of the Conversion Stock offered; or (iii) 15 times the product (rounded down to the next whole number) obtained by multiplying the total number of shares of Common Stock offered by a fraction of which the numerator is the amount of the Qualifying Deposit of such Eligible Account Holder and the denominator is the total amount of Qualifying Deposits of all Eligible Account Holders but in no event greater than the maximum purchase limitation specified in Section 11 hereof. All such purchases are subject to the maximum and minimum purchase limitations specified in Section 11 and are exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Offering Range of up to 15%. Only a Person(s) with a Qualifying Deposit as of the Eligibility Record Date (or a successor entity or estate) shall receive subscription rights. Any Person(s) added to a Savings Account after the Eligibility Record Date is not an Eligible Account Holder. B. In the event that Eligible Account Holders exercise Subscription Rights for a number of shares of Common Stock in excess of the total number of such shares eligible for subscription, the shares of Common Stock shall be allocated among the subscribing Eligible Account Holders so as to permit each subscribing Eligible Account Holder, to the extent possible, to purchase a number of shares sufficient to make his or her total allocation of Common Stock equal to the lesser of 100 shares or the number of shares subscribed for by the Eligible Account Holder. Any shares remaining after that allocation will be allocated among the subscribing Eligible Account Holders whose subscriptions remain unsatisfied in the proportion that the amount of the Qualifying Deposit of each Eligible Account Holder whose subscription remains unsatisfied bears to the total amount of the Qualifying Deposits of all Eligible Account Holders whose subscriptions remain unsatisfied. If the amount so allocated exceeds the amount subscribed for by any one or more Eligible Account Holders, the excess shall be reallocated (one or more times as necessary) among those Eligible Account Holders whose subscriptions are still not fully satisfied on the same principle until all available shares have been allocated or all subscriptions satisfied. C. Subscription rights as Eligible Account Holders received by Directors and Officers and their Associates which are based on deposits made by such persons Persons during the twelve (12) months preceding the Eligibility Record Date shall be subordinated to the Subscription Rights of all other Eligible Account Holders.

SUBSCRIPTION RIGHTS OF ELIGIBLE ACCOUNT HOLDERS. (FIRST PRIORITY) A. Each Eligible Account Holder shall receive, without payment, nontransferable subscription rights to subscribe for shares of Common Stock equal to the greater of: (i) the maximum established for the Community Offering; (ii) one-tenth of one percent of the Conversion Stock offered; or (iii) 15 times the product (rounded down to the next whole number) obtained by multiplying the total number of shares of Common Stock offered by a fraction of which the numerator is the amount of the Qualifying Deposit of such Eligible Account Holder and the denominator is the total amount of Qualifying Deposits of all Eligible Account Holders but in no event greater than the maximum purchase limitation specified in Section 11 hereof. All such purchases are subject to the maximum and minimum purchase limitations specified in Section 11 and are exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Offering Range of up to 15%. Only a Person(s) with a Qualifying Deposit as of the Eligibility Record Date (or a successor entity or estate) shall receive subscription rights. Any Person(s) added to a Savings Account after the Eligibility Record Date is not an Eligible Account Holder. B. In the event that Eligible Account Holders exercise Subscription Rights for a number of shares of Common Stock in excess of the total number of such shares eligible for subscription, the shares of Common Stock shall be allocated among the subscribing Eligible Account Holders so as to permit each subscribing Eligible Account Holder, to the extent possible, to purchase a number of shares sufficient to make his or her total allocation of Common Stock equal to the lesser of 100 shares or the number of shares subscribed for by the Eligible Account Holder. Any shares remaining after that allocation will be allocated among the subscribing Eligible Account Holders whose subscriptions remain unsatisfied in the proportion that the amount of the Qualifying Deposit of each Eligible Account Holder whose subscription remains unsatisfied bears to the total amount of the Qualifying Deposits of all Eligible Account Holders whose subscriptions remain unsatisfied. If the amount so allocated exceeds the amount subscribed for by any one or more Eligible Account Holders, the excess shall be reallocated (one or more times as necessary) among those Eligible Account Holders whose subscriptions are still not fully satisfied on the same principle until all available shares have been allocated or all subscriptions satisfied. C. Subscription rights as Eligible Account Holders received by Directors and Officers and their Associates which are based on deposits made by such persons during the twelve (12) months preceding the Eligibility Record Date shall be subordinated to the Subscription Rights of all other Eligible Account Holders. D. Kearny Federal Savings Charitable Foundation (the "Charitable Foundation"), as a Person with a Qualifying Deposit as of the Eligibility Record Date and thus an Eligible Account Holder, shall receive without payment nontransferable subscription rights to subscribe for shares of Common Stock and may elect to subscribe for shares in Tier 1 as an Eligible Account Holder. The Charitable Foundation shall not be deemed to be an Associate of or a person Acting in Concert with any Director or Officer of the Mutual Holding Company, the Stock Holding Company or the Bank.

SUBSCRIPTION RIGHTS OF ELIGIBLE ACCOUNT HOLDERS. (FIRST PRIORITY) A. a) Each Eligible Account Holder shall receive, without payment, nontransferable subscription rights Subscription Rights to subscribe for shares of Common Stock equal purchase up to the greater of: of (i) the $500,000 of Conversion Stock (or such maximum purchase limitation as may be established for the Community Offering and/or Syndicated Community Offering; ), (ii) one-tenth of one percent 1% of the Conversion Stock offered; or total offering of shares in the Subscription Offering and (iii) 15 times the product (rounded down to the next whole number) obtained by multiplying the total number of shares of Common Conversion Stock offered in the Subscription Offering by a fraction fraction, of which the numerator is the amount of the Qualifying Deposit Deposits of such the Eligible Account Holder and the denominator is the total amount of all Qualifying Deposits of all Eligible Account Holders but Holders, in no event greater than the maximum purchase limitation specified in Section 11 hereof. All such purchases are each case subject to the maximum Sections 12 and minimum purchase limitations specified in Section 11 and are exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Offering Range of up to 15%. Only a Person(s) with a Qualifying Deposit as of the Eligibility Record Date (or a successor entity or estate) shall receive subscription rights. Any Person(s) added to a Savings Account after the Eligibility Record Date is not an Eligible Account Holder15 hereof. B. (b) In the event that Eligible Account Holders exercise Subscription Rights of an oversubscription for a number of shares of Common Conversion Stock in excess of the total number of such pursuant to Section 5(a), available shares eligible for subscription, the shares of Common Stock shall be allocated among the subscribing Eligible Account Holders so as to permit each subscribing such Eligible Account Holder, to the extent possible, to purchase a number of shares sufficient to which will make his or her total allocation of Common Stock equal to the lesser of 100 shares or the number of shares subscribed for by the Eligible Account Holderor 100 shares. Any available shares remaining after that allocation will each subscribing Eligible Account Holder has been allocated the lesser of the number of shares subscribed for or 100 shares shall be allocated among the subscribing Eligible Account Holders whose subscriptions remain unsatisfied in the proportion that the amount of which the Qualifying Deposit of each such subscribing Eligible Account Holder whose subscription remains unsatisfied bears to the total amount of the Qualifying Deposits of all such subscribing Eligible Account Holders whose subscriptions remain unsatisfied. If the amount so allocated exceeds the amount subscribed for by any one or more Eligible Account Holdersorders are unfilled, the excess provided that no fractional shares shall be reallocated (one or more times as necessary) among those issued. Subscription Rights of Eligible Account Holders whose subscriptions who are still not fully satisfied on the same principle until all available shares have been allocated also Directors or all subscriptions satisfied. C. Subscription rights as Eligible Account Holders received by Directors and Officers and their Associates which shall be subordinated to those of other Eligible Account Holders to the extent that they are based on attributable to increased deposits made by such persons during the twelve (12) months one-year period preceding the Eligibility Record Date shall be subordinated to the Subscription Rights of all other Eligible Account HoldersDate.

SUBSCRIPTION RIGHTS OF ELIGIBLE ACCOUNT HOLDERS. (FIRST PRIORITY)) ---------------- A. Each Eligible Account Holder shall receive, without payment, nontransferable subscription rights Subscription Rights to subscribe for shares purchase, subject to the further limitations of Common Stock equal Section 11 hereof, up to the greater of: of (i) the maximum established for the Community Offering; purchase limitation set forth in Section 11 hereof, (ii) one-tenth of one percent 1% of the total offering of shares of Conversion Stock offered; or in the Subscription Offering, and (iii) 15 times the product (rounded down to the next whole number) obtained by multiplying the total number of shares of Common Conversion Stock offered in the Subscription Offering by a fraction fraction, of which the numerator is the amount of the Qualifying Deposit of such the Eligible Account Holder and the denominator is the total amount of all Qualifying Deposits of all Eligible Account Holders but in no event greater than the maximum purchase limitation specified in Section 11 hereof. All such purchases are Holders, subject to the maximum and minimum purchase limitations specified in Section 11 and are exclusive of an increase in the total number of shares issued due to an increase in the maximum of the Offering Range of up to 15%. Only a Person(s) with a Qualifying Deposit as of the Eligibility Record Date (or a successor entity or estate) shall receive subscription rights. Any Person(s) added to a Savings Account after the Eligibility Record Date is not an Eligible Account Holder14 hereof. B. In the event that Eligible Account Holders exercise Subscription Rights of an oversubscription for a number of shares of Common Conversion Stock in excess of pursuant to the total number of such provisions herein, available shares eligible for subscription, the shares of Common Stock shall be allocated among the subscribing Eligible Account Holders so as to permit each subscribing such Eligible Account Holder, to the extent possible, to purchase a number of shares sufficient to which will make his or her total allocation of Common Stock equal to the lesser of 100 shares or the number of shares subscribed for by the Eligible Account Holderor 100 shares. Any available shares remaining after that allocation will each such subscribing Eligible Account Holder has been allocated the lesser of the number of shares subscribed for or 100 shares shall be allocated among the subscribing Eligible Account Holders whose subscriptions remain unsatisfied in the proportion that the amount of which the Qualifying Deposit of each such subscribing Eligible Account Holder whose subscription remains unsatisfied bears to the total amount of the Qualifying Deposits of all such subscribing Eligible Account Holders whose subscriptions remain unsatisfied. If the amount so allocated exceeds the amount subscribed for by any one or more Eligible Account Holdersorders are unfilled, the excess provided that no fractional shares shall be reallocated (one or more times as necessary) among those issued. Subscription Rights of Eligible Account Holders whose subscriptions who are still not fully satisfied on the same principle until all available shares have been allocated also Directors or all subscriptions satisfied. C. Subscription rights as Eligible Account Holders received by Directors and Officers and their Associates which shall be subordinated to those of other Eligible Account Holders to the extent that they are based on attributable to increased deposits made by such persons during the twelve (12) months one-year period preceding the Eligibility Record Date shall be subordinated to the Subscription Rights of all other Eligible Account HoldersDate.