Document:

HUDSON CITY BANCORP, INC.
                    2004 EMPLOYMENT INDUCEMENT STOCK PROGRAM
                            J. CHRISTOPHER NETTLETON

                          RESTRICTED STOCK AWARD NOTICE

J. Christopher Nettleton
-----------------------------                    -------------------------------
Name                                             Social Security Number

--------------------------------------------------------------------------------
Street Address

------------------------------             -------------         ---------------
City                                       State                 Zip Code

This Restricted Stock Award Notice is intended to set forth the terms and
conditions on which an Award has been granted. Set forth below are the specific
terms and conditions applicable to this Award. Attached as Exhibit A are its
general terms and conditions.

<TABLE>
<CAPTION>
        Restricted Stock Award               (A)            (B)             (C)            (D)            (E)
--------------------------------------- -------------- --------------- -------------- -------------- ---------------
<S>                                        <C>            <C>             <C>            <C>              <C>
Effective Date:                            4/15/04        4/15/04         4/15/04        4/15/04          n/a
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

Class of Shares*                           Common          Common         Common         Common          Common
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

No. of Awarded Shares*                     4,000           4,000          4,000          4,000            4,000
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

Type of Award (Legended Certificate
or Escrow)
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

Vesting Date*                             04/20/05       04/20/06        04/20/07       04/20/08       04/20/09
======================================= ============== =============== ============== ============== ===============
</TABLE>

* Subject to adjustment as provided in the Hudson City Bancorp, Inc. 2000
Recognition and Retention Plan and the General Terms and Conditions

By signing where indicated below, Hudson City Bancorp, Inc. (the "Company")
grants this Award upon the specified terms and conditions, and the Award
Recipient acknowledges receipt of this Restricted Stock Award Notice, including
Exhibit A, and agrees to observe and be bound by the terms and conditions set
forth herein and acknowledges receipt of a copy of the Prospectus for this Award
dated April 16, 2004.

HUDSON CITY BANCORP, INC.                        AWARD RECIPIENT

By
    ---------------------------                  ----------------------------
    Name:  Ronald E. Hermance, Jr.               Name: J. Christopher Nettleton
    Title:  President & Chief Executive
            Officer

INSTRUCTIONS: This Agreement should be completed by or on behalf of the
Compensation Committee. Any blank space intentionally left blank should be
crossed out. An Award consists of shares granted with uniform terms and
conditions. Where shares granted under an Award are awarded on the same date
with varying terms and conditions (for example, varying vesting dates), the
awards should be recorded as a series of grants each with its own uniform terms
and conditions.

<PAGE>

                                                                       EXHIBIT A
                                                                       ---------

                            HUDSON CITY BANCORP, INC.
                    2004 EMPLOYMENT INDUCEMENT STOCK PROGRAM
               RESTRICTED STOCK AWARD FOR J. CHRISTOPHER NETTLETON
                          GENERAL TERMS AND CONDITIONS

       SECTION 1. SIZE AND TYPE OF AWARD. The shares of Common Stock, par value
$.01 per share, of Hudson City Bancorp, Inc. ("Shares") covered by this Award
("Awarded Shares") are listed on this Restricted Stock Award Notice. Your
Restricted Stock Award Notice designates the Awarded Shares as either "Pending
Issuance" or "Legended Certificate".

                  (A) LEGENDED CERTIFICATE. If your Awarded Shares are
       designated "Legended Certificate," a stock certificate evidencing the
       Awarded Shares will be issued in your name and held in a brokerage
       account at Deutsche Banc Alex. Brown Inc., the 2000 Recognition and
       Retention Plan Trustee ("Plan Trustee"). The stock certificate will bear
       a legend indicating that it is subject to all of the terms and conditions
       of this Award Notice and the Hudson City Bancorp, Inc. 2000 Recognition
       and Retention ("Plan") as though this Award had been made under the Plan.
       You will be required to elect to be taxed on the Fair Market Value of the
       Awarded Shares as of the date they are issued in your name, pursuant to
       section 83(b) of the Internal Revenue Code of 1986. You must make this
       election in writing, in the manner required by applicable Internal
       Revenue Service Regulations, and file it with the Internal Revenue
       Service and the Company within 30 days after the date on which the
       Awarded Shares are issued and delivered to you.

                  (B) ESCROW. If your Awarded Shares are designated "Escrow,"
       the Awarded Shares will either be held in the name of the Plan Trustee on
       a pooled basis with other Awarded Shares that have been designated
       "Escrow," or they will be evidenced by a legended stock certificate in
       your name that will be placed in a brokerage account for you at Deutsche
       Banc Alex. Brown Inc. You will not be permitted to elect to be taxed
       currently on the Fair Market Value of the Awarded Shares and instead will
       be subject to income tax on the Awarded Shares as and when they become
       vested.

       SECTION 2. VESTING.

                  (A) VESTING DATES. The Vesting Dates for your Awarded Shares
       are specified on this Award Notice. On each Vesting Date, you will obtain
       unrestricted ownership of the Awarded Shares that vest on that Vesting
       Date. A stock certificate (or a book entry listing) evidencing your
       unrestricted ownership of the vested Awarded Shares will be deposited in
       your brokerage account at Deutsche Bank Alex. Brown Inc. If a legended
       stock certificate evidencing these Awarded Shares was previously placed
       in your brokerage account, it will be exchanged for an unrestricted
       certificate or book entry listing.

                  (B) FORFEITURES. If you terminate service with the Company
       prior to a Vesting Date, you will forfeit any Awarded Shares that are
       scheduled to vest on that date. When you forfeit Awarded Shares, all of
       your interest in the Awarded Shares will be canceled and any stock
       certificate or other evidence of ownership that was given to you will be
       returned to the Company. You agree to take any action and execute and
       deliver any document that the Company requests to effect the return of
       your unvested Awarded Shares. In the event you do not cooperate with the
       Company in this regard, you hereby appoint and designate the Company as
       your attorney-in-fact for the purpose of taking any action and signing
       any document, in your name, which the Company determines is necessary to
       enforce the forfeiture.

                  (C) ACCELERATED VESTING. All of your Awarded Shares that have
       not previously vested will become fully vested immediately, and without
       any further action on your part, in the event of your death or Disability
       (as defined in the Plan) before your termination of service with the
       Company. In addition, if your service terminates due to Retirement (as
       defined in the Plan) or in the event a Change in Control (as defined in
       the Plan) occurs before you terminate service with the Company, then any
       Awarded Shares not theretofore forfeited shall become immediately vested
       on the date of your Retirement or the Change in Control. In the event of
       Retirement, unrestricted ownership of your Awarded Shares will not be
       transferred to you until January 1st of the calendar year following the
       calendar year in which your retirement occurs. You may designate a
       Beneficiary to receive any Awarded Shares that vest upon your death using
       the Beneficiary Designation attached as Appendix A.

                  (D) DEFINITION OF SERVICE. For purposes of determining the
       vesting of your Awarded Shares, you will be deemed to be in the service
       of the Company for so long as you serve in any capacity as an employee,
       officer, non-employee director or consultant of the Company.

       SECTION 3. DIVIDENDS. If your Awarded Shares are in the form of Legended
Certificates, any dividends declared by the Company with a record date that is
after the Effective Date specified in this Award Notice will be credited to your
brokerage account at Deutsche Bank Alex. Brown Inc. for your benefit on an
unrestricted basis. If your Awarded Shares are designated "Escrow", you will
receive the dividends on an unrestricted basis, but they will be paid to you by,
and will be taxable in the same manner as other compensation paid to you by, the
Company; by signing this Award Notice and accepting its terms, you direct
Deutsche Bank Alex. Brown Inc. and/or the Plan Trustee to remit to the Company
for payment to you and any dividends that either of them may receive as the
record holder of your unvested Awarded Shares.

       SECTION 4. VOTING RIGHTS. You shall have the right to control all voting
rights relating to all unvested Awarded Shares. If your Awarded Shares are
placed in your brokerage account at Deutsche Banc Alex. Brown Inc., you will
receive proxy materials for voting in the same manner as other shareholders with
Shares in brokerage accounts. If your unvested Awarded Shares are held by the
Plan Trustee, the Plan Trustee will ask you for voting directions and will
follow your directions in voting your unvested Awarded Shares.

       SECTION 5. AMENDMENT. This Award Notice may be amended, in whole or in
part and in any manner not inconsistent with the provisions of the Plan, at any
time and from time to time, by written agreement between you and the Company.

       SECTION 6. PLAN PROVISIONS CONTROL. This Award Notice, and the rights and
obligations created hereunder, shall be subject to all of the terms and
conditions of the Plan that would apply if this award were being made under the
Plan. In the event of any conflict between the provisions of the Plan and the
provisions of this Award Notice, the terms of the Plan, which are incorporated
herein by reference, shall control. Capitalized terms in this Award Notice have
the meaning defined in the Plan, as amended from time to time, unless otherwise
stated. By signing this Award Notice, you acknowledge receipt of a copy of the
Plan, and a copy of the Prospectus for this award dated April 16, 2004.

<PAGE>

        APPENDIX B TO RESTRICTED STOCK AWARD FOR J. CHRISTOPHER NETTLETON

                          BENEFICIARY DESIGNATION FORM

--------------------------------------------------------------------------------

GENERAL
INFORMATION

             USE THIS FORM TO DESIGNATE THE BENEFICIARY(IES) WHO WILL RECEIVE
             SHARES AVAILABLE FOR DISTRIBUTION AT THE TIME OF YOUR DEATH.

Name of
Award Recipient  J. Christopher Nettleton     Social Security Number ___-__-____
                 -------------------------

BENEFICIARY     COMPLETE SECTIONS A AND B. IF NO PERCENTAGE SHARES ARE
DESIGNATION     SPECIFIED, EACH BENEFICIARY IN THE SAME CLASS (PRIMARY OR
                CONTINGENT) SHALL HAVE AN EQUAL SHARE. IF ANY DESIGNATED
                BENEFICIARY PREDECEASES YOU, THE SHARES OF EACH REMAINING
                BENEFICIARY IN THE SAME CLASS (PRIMARY OR CONTINGENT) SHALL BE
                INCREASED PROPORTIONATELY.

A. PRIMARY BENEFICIARY(IES). I hereby designate the following person(s) as my
primary Beneficiary(ies), reserving the right to change or revoke this
designation at any time prior to my death:

<TABLE>
<CAPTION>
                    NAME                                        ADDRESS                 RELATIONSHIP      BIRTH DATE       SHARE
<S>                                         <C>                                         <C>             <C>             <C>
                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%

                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%

                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%
                                                                                                                        Total = 100%
</TABLE>

B. CONTINGENT BENEFICIARY(IES). I hereby designate the following person(s) as my
contingent Beneficiary(ies) to receive benefits only if all of my primary
Beneficiaries should predecease me, reserving the right to change or revoke this
designation at any time prior to my death with respect to all outstanding
Awarded Shares:
<TABLE>
<CAPTION>
                    NAME                                        ADDRESS                 RELATIONSHIP      BIRTH DATE       SHARE
<S>                                         <C>                                         <C>             <C>             <C>
                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%

                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%

                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%
                                                                                                                        Total = 100%
</TABLE>

               I understand that this Beneficiary Designation shall be
               effective only if properly completed and received by the
               Corporate Secretary of Hudson City Bancorp, Inc. prior to my
               death. I also understand that an effective Beneficiary
               designation revokes my prior designation(s) with respect to
    S    H     all outstanding Awarded Shares.
    I    E
    G    R
    N    E     _________________________________________     ___________________
                          YOUR SIGNATURE                             DATE

<TABLE>
<CAPTION>
--------------------------------------------------------- INTERNAL USE ONLY --------------------------------------------------------
<S>                                                                         <C>
This Beneficiary  Designation was received by the Corporate  Secretary                                Comments
of Hudson City Bancorp, Inc. on the date indicated.

By
  -----------------------------------------------------------------------------
         AUTHORIZED SIGNATURE                           DATE
</TABLE>HUDSON CITY BANCORP, INC.
                    2004 EMPLOYMENT INDUCEMENT STOCK PROGRAM
                               RONALD J. BUTKOVICH
                             STOCK OPTION AGREEMENT

Ronald J. Butkovich
-----------------------------                    -------------------------------
Name                                             Social Security Number

--------------------------------------------------------------------------------
Street Address

------------------------------             -------------         ---------------
City                                       State                 Zip Code

This Stock Option Agreement is intended to set forth the terms and conditions on
which a Stock Option has been granted. Set forth below are the specific terms
and conditions applicable to this Stock Option. Attached as Exhibit A are its
general terms and conditions.

<TABLE>
<CAPTION>
             Option Grant                    (A)            (B)             (C)            (D)            (E)
--------------------------------------- -------------- --------------- -------------- -------------- ---------------
<S>                                        <C>            <C>             <C>            <C>            <C>
Grant Date:                                4/15/04        4/15/04         4/15/04        4/15/04        4/15/04
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

Class of Optioned Shares*                  Common          Common         Common         Common          Common
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

No. of Optioned Shares*                    20,000          20,000         20,000         20,000          20,000
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

Exercise Price per Share*
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

Option Type (ISO or NQSO)                   NQSO            NQSO           NQSO           NQSO            NQSO
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

               VESTING:
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

Earliest Exercise Date*                   01/13/05        01/13/06       01/13/07       01/13/08        01/13/09
--------------------------------------- -------------- --------------- -------------- -------------- ---------------

Option Expiration Date*                    4/14/14        4/14/14         4/14/14        4/14/14        4/14/14
</TABLE>

* Subject to adjustment as provided in the Hudson City Bancorp, Inc., 2000 Stock
Option Plan and the General Terms and Conditions

By signing where indicated below, Hudson City Bancorp, Inc. (the "Company")
grants this Stock Option upon the specified terms and conditions, and the
Optionee acknowledges receipt of this Stock Option Agreement, including Exhibit
A, and agrees to observe and be bound by the terms and conditions set forth
herein and acknowledges receipt of a copy of the related Prospectus dated April
16, 2004.

HUDSON CITY BANCORP, INC.                              OPTIONEE

By
      ---------------------------                      -----------------------
      Name:  Ronald E. Hermance, Jr.                   Name: Ronald J. Butkovich
      Title:  President & Chief Executive
              Officer

INSTRUCTIONS: This Agreement should be completed by or on behalf of the
Compensation Committee. Any blank space intentionally left blank should be
crossed out. An option grant consists of a number of optioned shares with
uniform terms and conditions. Where options are granted on the same date with
varying terms and conditions (for example, varying exercise prices or earliest
exercise dates), the options should be recorded as a series of grants each with
its own uniform terms and conditions.

<PAGE>

                                                                       EXHIBIT A

                            HUDSON CITY BANCORP, INC.
                    2004 EMPLOYMENT INDUCEMENT STOCK PROGRAM
                 STOCK OPTION AGREEMENT FOR RONALD J. BUTKOVICH
                 ----------------------------------------------

                          GENERAL TERMS AND CONDITIONS

         SECTION 1. OPTION SIZE AND TYPE. The number of shares of Common Stock,
par value $.01 per share ("Shares"), that have been optioned to you is specified
in this Stock Option Agreement. If the "Option Type" shown for your stock option
is "ISO", then your stock option has been designed with the intent that it
qualify to the maximum permissible extent for the special tax benefits
applicable to incentive stock options under the Internal Revenue Code of 1986.
If the "Option Type" shown for your stock options is "NQSO", then incentive
stock option tax treatment is not applicable.

         SECTION 2. EXERCISE PRICE. The Exercise Price for your stock options is
the price per Share at which you may acquire the Shares that have been optioned
to you and is specified in this Stock Option Agreement. As a general rule, the
Exercise Price for your stock options will not change unless there is a stock
split, stock dividend, merger or other major corporate event that justifies an
adjustment.

         SECTION 3.  VESTING.

                  (A) EARLIEST EXERCISE DATE. You may not exercise your stock
         options until they are vested. The date on which your stock options
         become vested is specified in this Stock Option Agreement as the
         Earliest Exercise Date. As a general rule, you must be in the service
         of the Company on an Earliest Exercise Date in order to be vested in
         the stock options that vest on that date. You may acquire the Shares
         that have been optioned to you by exercising your stock options at any
         time during the period beginning on the Earliest Exercise Date and
         continuing until the applicable Option Expiration Date, by completing
         and filing the Notice of Exercise of Stock Option that is attached to
         this Stock Option Agreement as Appendix A and by following the
         procedures outlined therein.

                  (B) FORFEITURES. If you terminate service with the Company
         prior to an Earliest Exercise Date, you will forfeit any stock options
         that are scheduled to vest on that date. When you forfeit stock
         options, you relinquish any and all rights that you have to acquire the
         Shares that were optioned to you.

                  (C) ACCELERATED VESTING. All of your outstanding stock options
         that have not previously vested will become fully and immediately
         vested, without any further action on your part, in the event of your
         death or Disability (as defined in the Hudson City Bancorp, Inc. 2000
         Stock Option Plan (the "Plan") before your termination of service with
         the Company. In addition, if your service terminates due to Retirement
         (as defined in the Plan) or if a Change in Control (as defined in the
         Plan) occurs before you terminate service with the Company, then any
         stock options not theretofore forfeited shall become immediately vested
         on the date of your Retirement or the Change in Control. If vesting
         accelerates, the accelerated vesting date will be the applicable
         Earliest Exercise Date. You may designate a beneficiary to inherit your
         rights to any vested, unexercised stock options that are outstanding to
         you at your death using the Beneficiary Designation attached as
         Appendix B.

         SECTION 4. OPTION EXPIRATION DATE. To derive any benefit from your
stock options, you must exercise them during the period that begins on the
applicable Earliest Exercise Date and ends on the Option Expiration Date. The
Option Expiration Date for your stock options is specified in this Stock Option
Agreement. Your Option Expiration Date may be accelerated in the event of your
termination of service with the Company as follows:

                  (A) OPTIONS GRANTED TO ELIGIBLE EMPLOYEES. Your stock options
         will expire on the earliest of (i) the Option Expiration Date, (ii)
         three months after your termination of service with the Company for any
         reason other than death, Disability (as defined in the Plan),
         Retirement (as defined in the Plan), or Termination for Cause (as
         defined in the Plan); (iii) one year after your termination of service
         due to death, Disability or Retirement; and (iv) the date and time of
         your Termination for Cause.

                  (B) OPTIONS GRANTED TO OUTSIDE DIRECTORS. Your stock options
         will expire on the earlier of (i) the Option Expiration Date and (ii)
         the date and time of your removal as a director for cause under the
         Company's By-laws.

To qualify for the favorable tax treatment accorded to incentive stock options,
you (or, in the event of your death, your estate or designated beneficiaries)
must exercise any stock options that are designated as ISOs within three months
after you terminate service as a common-law employee of the Company and its
subsidiaries for any reason other than death or disability and within one year
after you terminate service as common-law employee due to your death or
disability. If they are exercised later, they will be subject to tax as if they
were designated as NQSOs.

         SECTION 5. AMENDMENT. This Agreement may be amended, in whole or in
part and in any manner not inconsistent with the provisions of the Plan, at any
time and from time to time, by written agreement between the Company and you.

         SECTION 6. PLAN PROVISIONS CONTROL. This Agreement and the rights and
obligations created hereunder shall be subject to all of the terms and
conditions of the Plan that would apply if this stock option had been granted
under the Plan. In the event of any conflict between the provisions of the Plan
and the provisions of this Agreement, the terms of the Plan, which are
incorporated herein by reference, shall control. Capitalized terms in this
agreement have the meaning defined in the Plan, as amended from time to time,
unless stated otherwise. By signing this Agreement, you acknowledge receipt of a
copy of the Plan and a copy of the Prospectus for this stock option dated April
16, 2004.

<PAGE>

          APPENDIX A TO STOCK OPTION AGREEMENT FOR RONALD J. BUTKOVICH
                       NOTICE OF EXERCISE OF STOCK OPTION

--------------------------------------------------------------------------------
USE THIS NOTICE TO INFORM HUDSON CITY BANCORP, INC. THAT YOU ARE EXERCISING YOUR
RIGHT TO PURCHASE SHARES OF COMMON STOCK ("SHARES") OF HUDSON CITY BANCORP, INC.
PURSUANT TO AN OPTION ("OPTION") GRANTED UNDER THE STOCK OPTION AGREEMENT
BETWEEN HUDSON CITY BANCORP, INC. AND RONALD J. BUTKOVICH DATED APRIL 15, 2004
(THE "OPTION AGREEMENT"). IF YOU ARE NOT THE PERSON TO WHOM THE OPTION WAS
GRANTED ("OPTION RECIPIENT"), YOU MUST ATTACH TO THIS NOTICE PROOF OF YOUR RIGHT
TO EXERCISE THE OPTION GRANTED UNDER THE STOCK OPTION AGREEMENT. THIS NOTICE
SHOULD BE PERSONALLY DELIVERED OR MAILED BY CERTIFIED MAIL, RETURN RECEIPT
REQUESTED TO: HUDSON CITY BANCORP, INC., WEST 80 CENTURY ROAD, PARAMUS, NEW
JERSEY 07652, ATTENTION: CORPORATE SECRETARY. THE EFFECTIVE DATE OF THE EXERCISE
OF THE OPTION SHALL BE THE EARLIEST DATE PRACTICABLE FOLLOWING THE DATE THIS
NOTICE IS RECEIVED BY HUDSON CITY BANCORP, INC. BUT IN NO EVENT MORE THAN THREE
DAYS AFTER SUCH DATE ("EFFECTIVE DATE"). EXCEPT AS SPECIFICALLY PROVIDED TO THE
CONTRARY HEREIN, CAPITALIZED TERMS SHALL HAVE THE MEANINGS ASSIGNED TO THEM
UNDER THE HUDSON CITY BANCORP, INC. 2000 STOCK OPTION PLAN (THE "PLAN").

OPTION INFORMATION      IDENTIFY BELOW THE OPTION THAT YOU ARE EXERCISING BY
                        PROVIDING THE FOLLOWING INFORMATION FROM THE STOCK
                        OPTION AGREEMENT.

         NAME OF OPTION RECIPIENT:  Ronald J. Butkovich
                                    --------------------------------------------
         OPTION GRANT DATE:         ________________, __________
                                     (MONTH AND DAY)   (YEAR)

                                    EXERCISE PRICE PER SHARE:    $_________.____

EXERCISE PRICE          COMPUTE THE EXERCISE PRICE BELOW AND SELECT A METHOD OF
                        PAYMENT.

<TABLE>
<CAPTION>
<S>                                              <C>                  <C>
         TOTAL EXERCISE PRICE ________________ x $__________.______ = $____________________
                              (No. of Shares)     (Exercise Price)     Total Exercise Price
</TABLE>

<TABLE>
<CAPTION>
         METHOD OF PAYMENT
<S>                                                                                                         <C>
               |_|    I enclose a certified check, money order, or bank draft payable to the order of       $____________________
                      Hudson City Bancorp, Inc. in the amount of

               |_|    I enclose Shares duly endorsed for transfer to Hudson City Bancorp, Inc. with all     $____________________
_______________       stamps attached and having a fair market value of
                      Total Exercise Price                                                                  $____________________
</TABLE>

ISSUANCE OF CERTIFICATES

I hereby direct that the stock certificates representing the Shares purchased
pursuant to the above instructions be issued to the following person(s) in the
amount specified below:

<TABLE>
<CAPTION>
                           NAME AND ADDRESS                                          SOCIAL SECURITY NO.          NO. OF SHARES
<S>                                                                            <C>                             <C>
------------------------------------------------------------------------------          -           -
------------------------------------------------------------------------------ --------- ----------- --------- ---------------------

------------------------------------------------------------------------------          -           -
------------------------------------------------------------------------------ --------- ----------- --------- ---------------------
</TABLE>

WITHHOLDING ELECTIONS FOR EMPLOYEE OPTION RECIPIENTS WITH NON-QUALIFIED STOCK
OPTIONS ONLY. BENEFICIARIES SHOULD NOT COMPLETE.

I understand that I am responsible for the amount of federal, state and local
taxes required to be withheld with respect to the Shares to be issued to me
pursuant to this Notice, but that I may request Hudson City Bancorp, Inc. to
retain or sell a sufficient number of such Shares to cover the amount to be
withheld. I hereby request that any taxes required to be withheld be paid in the
following manner [check one]:

              |_|    With a certified or bank check that I will deliver to the
                     Hudson City Bancorp, Inc. on the day after the Effective
                     Date of my Option exercise.

              |_|    With the proceeds from a sale of Shares that would
                     otherwise be distributed to me.

              |_|    Retain shares that would otherwise be distributed to me.

I understand that the withholding elections I have made on this form are not
binding on the Compensation Committee, and that the Compensation Committee will
decide the amount to be withheld and the method of withholding and advise me of
its decision prior to the Effective Date. I further understand that the
Compensation Committee may request additional information or assurances
regarding the manner and time at which I will report the income attributable to
the distribution to be made to me. I further understand that if I have elected
to have Shares sold to satisfy tax withholding, I may be asked to pay a minimal
amount of such taxes in cash in order to avoid the sale of more Shares than are
necessary.

COMPLIANCE WITH TAX AND SECURITIES LAWS

             I understand that I must rely on, and consult with, my own tax and
             legal counsel (and not Hudson City Bancorp, Inc.) regarding the
S   H        application of all laws -- particularly tax and securities laws --
I   E        to the transactions to be effected pursuant to my Option and this
G   R        Notice. I understand that I will be responsible for paying any
N   E        federal, state and local taxes that may become due upon the sale
             (including a sale pursuant to a "cashless exercise") or other
             disposition of Shares issued pursuant to this Notice and that I
             must consult with my own tax advisor regarding how and when such
             income will be reportable.

             _______________________________________        ___________________
                       Signature                                   DATE

<TABLE>
<CAPTION>
--------------------------------------------------------- INTERNAL USE ONLY --------------------------------------------------------
<S>                                                                         <C>
Received  [CHECK ONE]:                     |_| By Hand                |_| By Mail Post Marked       ________________________________
                                                                                                                   DATE OF POST MARK

________________________________________________________________________                            ________________________________
                           AUTHORIZED SIGNATURE                                                                      DATE OF RECEIPT
</TABLE>

<PAGE>

          APPENDIX B TO STOCK OPTION AGREEMENT FOR RONALD J. BUTKOVICH

                          BENEFICIARY DESIGNATION FORM

--------------------------------------------------------------------------------

GENERAL            USE THIS FORM TO DESIGNATE THE  BENEFICIARY(IES) WHO WILL
INFORMATION        RECEIVE  VESTED STOCK OPTIONS  OUTSTANDING TO YOU AT THE TIME
                   OF YOUR DEATH.

Name of Person
Making Designation   Ronald J. Butkovich   Social Security Number  ___--__--____
                     -------------------

BENEFICIARY     COMPLETE SECTIONS A AND B. IF NO PERCENTAGE SHARES ARE
DESIGNATION     SPECIFIED, EACH BENEFICIARY IN THE SAME CLASS (PRIMARY
                OR CONTINGENT) SHALL HAVE AN EQUAL SHARE. IF ANY DESIGNATED
                PREDECEASES YOU, THE SHARES OF EACH REMAINING BENEFICIARY IN THE
                SAME CLASS (PRIMARY OR CONTINGENT) SHALL BE INCREASED
                PROPORTIONATELY.

A. PRIMARY BENEFICIARY(IES). I hereby designate the following person(s) as my
primary Beneficiary(ies), reserving the right to change or revoke this
designation at any time prior to my death:

<TABLE>
<CAPTION>
                    NAME                                        ADDRESS                 RELATIONSHIP      BIRTH DATE       SHARE
<S>                                         <C>                                         <C>             <C>             <C>
                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%

                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%

                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%
                                                                                                                        Total = 100%
</TABLE>

B. CONTINGENT BENEFICIARY(IES). I hereby designate the following person(s) as my
contingent Beneficiary(ies) to receive benefits only if all of my primary
Beneficiaries should predecease me, reserving the right to change or revoke this
designation at any time prior to my death with respect to all outstanding Stock
Option:

<TABLE>
<CAPTION>
                    NAME                                        ADDRESS                 RELATIONSHIP      BIRTH DATE       SHARE
<S>                                         <C>                                         <C>             <C>             <C>
                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%

                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%

                                            -------------------------------------------
------------------------------------------- ------------------------------------------- --------------- --------------- -----------%
                                                                                                                        Total = 100%
</TABLE>

               I understand that this Beneficiary Designation shall be
               effective only if properly completed and received by the
               Corporate Secretary of Hudson City Bancorp, Inc. prior to my
               death. I also understand that an effective Beneficiary
               designation revokes my prior designation(s) with respect to
    S    H     all outstanding Stock Options.
    I    E
    G    R
    N    E     _________________________________________     ___________________
                          YOUR SIGNATURE                             DATE

<TABLE>
<CAPTION>
--------------------------------------------------------- INTERNAL USE ONLY --------------------------------------------------------
<S>                                                                         <C>
This Beneficiary  Designation was received by the Corporate  Secretary                                Comments
of Hudson City Bancorp, Inc. on the date indicated.

By
  -----------------------------------------------------------------------------
         AUTHORIZED SIGNATURE                           DATE
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}]]