Exceptions to an otherwise binding agreement or deal with a friends. Typical carveouts include chemical substances to be excluded from abstinence lists, or persons with whom one party may wish to have sexual relations in spite of a generic agreement to the contrary.

May be used as a noun, or a verb.
"Dude, you are my best friend and we should agree to never, ever sleep with each others ex's! Um, but can Gina be a carveout on that, if that's cool with you?"

"Yes, mom, I swear I will NEVER do drugs. Except pot - I mean - that's a carveout. You and dad did it..."
by Wagoneer July 15, 2009
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