Document:

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                                EXHIBIT 10.10.2
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                       Capital One Financial Corporation
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          Amended and Restated Change of Control Employment Agreement
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Each of the following executive officers of Capital One Financial Corporation
has entered into an Amended and Restated Change of Control Employment Agreement
in the form filed herewith:

Marjorie M. Connelly
Matthew J. Cooper
Dennis H. Liberson
William J. McDonald
Peter Schnall
Michael Shrader
David M. Willey
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                       CAPITAL ONE FINANCIAL CORPORATION
                       ---------------------------------

                              [                 ]
                              ___________________

          AMENDED AND RESTATED CHANGE OF CONTROL EMPLOYMENT AGREEMENT
          -----------------------------------------------------------

     AGREEMENT by and between CAPITAL ONE FINANCIAL CORPORATION, a Delaware
corporation (the "Company"), and ________________(the "Executive"), dated as of
the 25/th/ day of January, 2000.

     The Board of Directors of the Company (the "Board") has determined that it
is in the best interests of the Company and its shareholders to assure that the
Company will have the continued dedication of the Executive, notwithstanding the
possibility, threat or occurrence of a Change of Control (as defined below) of
the Company. The Board believes it is imperative to diminish the inevitable
distraction of the Executive by virtue of the personal uncertainties and risks
created by a pending or threatened Change of Control and to encourage the
Executive's full attention and dedication to the Company currently and in the
event of any threatened or pending Change of Control, and to provide the
Executive with compensation and benefits arrangements upon a Change of Control
which ensure that the compensation and benefits expectations of the Executive
will be satisfied and which are competitive with those of other corporations.
Therefore, in order to accomplish these objectives, the Board has caused the
Company to enter into this Agreement.

     NOW, THEREFORE, IT IS HEREBY AGREED AS FOLLOWS:

     1.   Certain Definitions.
          -------------------
          (a)  The "Effective Date" shall be the first date during the "Change
     of Control Period" (as defined in Section 1(b)) on which a Change of
     Control occurs. Anything in this Agreement to the contrary notwithstanding,
     if the Executive's employment with the Company is terminated or the terms
     and conditions of the Executive's employment are adversely changed in a
     manner which would constitute grounds for a termination of

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     employment by the Executive for Good Reason prior to the date on which a
     Change of Control occurs, and it is reasonably demonstrated that such
     termination of employment or adverse change (i) was at the request of a
     third party who has taken steps reasonably calculated to effect the Change
     of Control or (ii) otherwise arose within 12 months of and in connection
     with or anticipation of the Change of Control, then for all purposes of
     this Agreement the "Effective Date" shall mean the date immediately prior
     to the date of such termination of employment or adverse change.

          (b)  The "Change of Control Period" is the period commencing on the
     date hereof and ending on the third anniversary of such date; provided,
     however, that commencing on the date one year after the date hereof, and on
     each annual anniversary of such date (such date and each annual anniversary
     thereof is hereinafter referred to as the "Renewal Date"), the Change of
     Control Period shall be automatically extended so as to terminate three
     years from such Renewal Date, unless at least 60 days prior to the Renewal
     Date the Company shall give notice to the Executive that the Change of
     Control Period shall not be so extended.

     2.   Change of Control.  For the purpose of this Agreement, a "Change of
          -----------------
Control" shall mean:

          (a)  The acquisition by any individual, entity or group (within the
     meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
     1934, as amended (the "Exchange Act")) of beneficial ownership (within the
     meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% (or, if
     such shares are purchased from the Company, 40%) or more of either (i) the
     then outstanding shares of common stock of the Company (the "Outstanding
     Company Common Stock") or (ii) the combined voting power of the then
     outstanding voting securities of the Company entitled to vote generally in
     the election of directors (the "Company Voting Securities"), provided,
                                                                  --------
     however, that any acquisition by (x) the Company or any of its
     -------
     subsidiaries, or any employee benefit plan (or related trust) sponsored or
     maintained by the Company or any of its subsidiaries

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     or (y) any corporation with respect to which, immediately following such
     acquisition, more than 60% of, respectively, the then outstanding shares of
     common stock of such corporation and the combined voting power of the then
     outstanding voting securities of such corporation entitled to vote
     generally in the election of directors is then beneficially owned, directly
     or indirectly, in the aggregate by all or substantially all of the
     individuals and entities who were the beneficial owners, respectively, of
     the Outstanding Company Common Stock and Company Voting Securities
     immediately prior to such acquisition in substantially the same proportion
     as their ownership, immediately prior to such acquisition, of the
     Outstanding Company Common Stock and Company Voting Securities, as the case
     may be, shall not constitute a Change of Control; or

          (b)  Individuals who constitute the Board as of the date hereof (the
     "Incumbent Board") cease for any reason to constitute at least a majority
     of the Board, provided that any individual becoming a director subsequent
     to the date hereof whose appointment to fill a vacancy or to fill a new
     Board position or whose election or nomination for election by the
     Company's shareholders was approved by a vote of at least a majority of the
     directors then comprising the Incumbent Board shall be considered as though
     such individual were a member of the Incumbent Board, but excluding, for
     this purpose, any such individual whose initial assumption of office is in
     connection with an actual or threatened election contest relating to the
     election of the Directors of the Company (as such terms are used in Rule
     14a-11 of Regulation 14A promulgated under the Exchange Act); or

          (c) Approval by the shareholders of the Company of a reorganization,
     merger or consolidation (a "Business Combination"), in each case, with
     respect to which all or substantially all of the individuals and entities
     who were the respective beneficial owners of the Outstanding Company Common
     Stock and Company Voting Securities immediately prior to such Business
     Combination do not in the aggregate, immediately following such Business
     Combination, beneficially own, directly or indirectly, more than

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     60% of, respectively, the then outstanding shares of common stock and the
     combined voting power of the then outstanding voting securities entitled to
     vote generally in the election of directors, as the case may be, of the
     corporation resulting from such Business Combination in substantially the
     same proportion as their ownership immediately prior to such Business
     Combination of the Outstanding Company Common Stock and Company Voting
     Securities, as the case may be; or

          (d) (i) a complete liquidation or dissolution of the Company or (ii)
     sale or other disposition of all or substantially all of the assets of the
     Company other than to a corporation with respect to which, immediately
     following such sale or disposition, more than 60% of, respectively, the
     then outstanding shares of common stock and the combined voting power of
     the then outstanding voting securities entitled to vote generally in the
     election of directors is then beneficially owned, directly or indirectly,
     in the aggregate by all or substantially all of the individuals and
     entities who were the beneficial owners, respectively, of the Outstanding
     Company Common Stock and Company Voting Securities immediately prior to
     such sale or disposition in substantially the same proportion as their
     ownership of the Outstanding Company Common Stock and Company Voting
     Securities, as the case may be, immediately prior to such sale or
     disposition.

          (e) Notwithstanding the foregoing, a Change of Control shall not occur
     with respect to the Executive by reason of any event which would otherwise
     constitute a Change of Control if, immediately after the occurrence of such
     event, individuals including such Executive who were executive officers of
     the Company immediately prior to the occurrence of such event, own,
     directly or indirectly, on a fully diluted basis, (i) 15% or more of the
     then outstanding shares of common stock of the Company or any acquiror or
     successor to substantially all of the business of the Company or (ii) 15%
     or more of the combined voting power of the then outstanding voting
     securities of the Company or any acquiror or successor to substantially all
     of the business of the Company entitled to vote generally in the election
     of directors.

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     3.   Employment Period. The Company hereby agrees to continue the Executive
          -----------------
in its employ, and the Executive hereby agrees to remain in the employ of the
Company, for the period commencing on the Effective Date and ending on the
second anniversary of such date (the "Employment Period").

     4.   Terms of Employment.
          -------------------

          (a)  Position and Duties.
               -------------------

               (i)  During the Employment Period, (A) the Executive's position
          (including status, offices, titles and reporting requirements),
          authority, duties and responsibilities shall be at least commensurate
          in all material respects with the most significant of those held,
          exercised and assigned at any time during the 90-day period
          immediately preceding the Effective Date and (B) the Executive's
          services shall be performed at the location where the Executive was
          employed immediately preceding the Effective Date or any office or
          location less than 35 miles from such location.

               (ii) During the Employment Period, and excluding any periods of
          vacation, sabbatical and sick or similar leave to which the Executive
          is entitled, the Executive agrees to devote reasonable attention and
          time during normal business hours to the business and affairs of the
          Company and, to the extent necessary to discharge the responsibilities
          assigned to the Executive hereunder, to use the Executive's reasonable
          best efforts to perform faithfully and efficiently such
          responsibilities.  During the Employment Period it shall not be a
          violation of this Agreement for the Executive to (A) serve on
          corporate, civic or charitable boards or committees, (B) deliver
          lectures, fulfill speaking engagements or teach at educational
          institutions and (C) manage personal investments, so long as such
          activities do not significantly interfere with the performance of the
          Executive's responsibilities as an employee of the Company in
          accordance with this Agreement.  It is expressly understood and agreed
          that to the extent that any such

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          activities have been conducted by the Executive prior to the Effective
          Date, the continued conduct of such activities (or the conduct of
          activities similar in nature and scope thereto) subsequent to the
          Effective Date shall not thereafter be deemed to interfere with the
          performance of the Executive's responsibilities to the Company.

          (b)  Compensation.
               ------------

               (i)  Base Salary.  During the Employment Period, the Executive
                    -----------
          shall receive an annual base salary ("Annual Base Salary"), which
          shall be paid at a monthly rate, at least equal to twelve times the
          highest monthly base salary paid or payable, including by reason of
          deferral and before any reduction for the amount of such annual base
          salary which the Executive may have agreed to forgo in exchange for
          the receipt of stock options from the Company, to the Executive by the
          Company and its affiliated companies in respect of the twelve-month
          period immediately preceding the month in which the Effective Date
          occurs.  During the Employment Period, the Annual Base Salary shall be
          reviewed at least annually and shall be increased at any time and from
          time to time as shall be substantially consistent with increases in
          base salary awarded in the ordinary course of business to other peer
          executives of the Company and its affiliated companies.  Any increase
          in Annual Base Salary shall not serve to limit or reduce any other
          obligation to the Executive under this Agreement.  Annual Base Salary
          shall not be reduced after any such increase and the term Annual Base
          Salary as utilized in this Agreement shall refer to Annual Base Salary
          as so increased.  As used in this Agreement, the term "affiliated
          companies" includes any company controlled by, controlling or under
          common control with the Company.  Any payments of the Executive's
          Annual Base Salary made under this Section 4(b)(i) may be reduced to
          the extent provided in an election made by the Executive to forgo any
          or all base salary otherwise payable in exchange for the receipt of
          stock

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          options from the Company. The Company shall maintain an account (the
          "Stock Option Purchase Account"), the balance of which, as of any
          date, shall be equal to the aggregate dollar amount of base salary and
          bonuses that the Executive has agreed to forgo in exchange for the
          receipt of such stock options, less the amount of such base salary or
          bonuses or other compensation (including amounts payable upon
          termination of employment) actually forgone.

               (ii) Annual Bonus.  In addition to any Annual Base Salary payable
                    ------------
          as hereinabove provided, the Executive shall be awarded, for each
          fiscal year beginning or ending during the Employment Period, an
          annual bonus (the "Annual Bonus") in cash at least equal to the sum of
          the target award under the Company's Executive Annual Cash Incentive
          Plan and any other target awards under any other similar annual
          incentive plans (or, if no such target award is designated under the
          Company's Executive Annual Cash Incentive Plan or any similar plan,
          the midpoint between the high and low bonus payable to the Executive
          under such plan); provided, however, that such target or midpoint, as
                            --------  -------
          the case may be, shall not be less than such target or midpoint under
          such plans in the year immediately preceding the Change of Control
          (the "Recent Annual Bonus").  Each such Annual Bonus shall be paid no
          later than the end of the third month of the fiscal year next
          following the fiscal year for which the Annual Bonus is awarded,
          unless the Executive shall elect to defer the receipt of such Annual
          Bonus.  Any payments of the Executive's Annual Bonus made under this
          Section 4(b)(ii) may be reduced to the extent provided in an election
          made by the Executive to forgo any or all bonus amounts otherwise
          payable in exchange for the receipt of stock options from the Company.

               (iii)  Incentive, Savings and Retirement Plans.  In addition to
                      ---------------------------------------
          any Annual Base Salary and Annual Bonus payable as hereinabove
          provided, the Executive shall be entitled to participate during the
          Employment Period in all

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          incentive, profit-sharing, savings and retirement plans, practices,
          policies and programs (including any stock-based plans) applicable
          generally to other peer executives of the Company and its affiliated
          companies, but in no event shall such plans, practices, policies and
          programs provide the Executive with incentive, savings and retirement
          benefit opportunities (including under any stock-based plans), in each
          case, less favorable, in the aggregate, except as required to comply
          with statutory requirements of general application which limit the
          level of benefit opportunity, than (A) the most favorable of those
          provided by the Company and its affiliated companies for the Executive
          under such plans, practices, policies and programs as in effect at any
          time during the 90-day period immediately preceding the Effective Date
          or (B) if more favorable to the Executive, those provided at any time
          after the Effective Date to other peer executives of the Company and
          its affiliated companies; provided that no award shall be granted or
          contributions made under any such plan, practice, policy or program to
          the extent the Executive has made an election to forgo awards or
          contributions under such plan, practice, policy or program of the
          Company in exchange for the receipt of stock options from the Company;
          and provided further that any effect on the Executive's participation
          or benefit level resulting from the Executive's not receiving an
          Annual Base Salary as a result of an election made by the Executive to
          forgo any or all base salary otherwise payable in exchange for the
          receipt of stock options from the Company shall be governed by the
          terms of those plans, practices, policies and programs of general
          applicability.

               (iv) Welfare Benefit Plans.  During the Employment Period, the
                    ---------------------
          Executive and/or the Executive's family, as the case may be, shall be
          eligible for participation in and shall receive all benefits under
          welfare benefit plans, practices, policies and programs provided by
          the Company and its affiliated companies (including, without
          limitation, medical, prescription, dental, disability,

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          salary continuance, employee life, group life, split-dollar life
          insurance, accidental death and travel accident insurance plans and
          programs) to the extent generally applicable to other peer executives
          of the Company and its affiliated companies, but in no event shall
          such plans, practices, policies and programs provide the Executive
          with benefits which are less favorable, in the aggregate, than (x) the
          most favorable of such plans, practices, policies and programs in
          effect for the Executive at any time during the 90-day period
          immediately preceding the Effective Date or (y) if more favorable to
          the Executive, those provided at any time after the Effective Date
          generally to other peer executives of the Company and its affiliated
          companies.

               (v)   Expenses. During the Employment Period, the Executive shall
                     --------
          be entitled to receive prompt reimbursement for all reasonable
          expenses incurred by the Executive in accordance with the most
          favorable policies, practices and procedures of the Company and its
          affiliated companies in effect for the Executive at any time during
          the 90-day period immediately preceding the Effective Date or, if more
          favorable to the Executive, as in effect generally at any time
          thereafter with respect to other peer executives of the Company and
          its affiliated companies.

               (vi)  Fringe Benefits.  During the Employment Period, the
                     ---------------
          Executive shall be entitled to fringe benefits in accordance with the
          most favorable plans, practices, programs and policies of the Company
          and its affiliated companies in effect for the Executive at any time
          during the 90-day period immediately preceding the Effective Date or,
          if more favorable to the Executive, as in effect generally at any time
          thereafter with respect to other peer executives of the Company and
          its affiliated companies.

               (vii) Office and Support Staff.  During the Employment Period,
                     ------------------------
          the Executive shall be entitled to an office or offices of a size and
          with furnishings and other appointments, and to personal secretarial
          and other assistance, at least

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          equal to the most favorable of the foregoing provided to the Executive
          by the Company and its affiliated companies at any time during the 90-
          day period immediately preceding the Effective Date or, if more
          favorable to the Executive, as provided generally at any time
          thereafter with respect to other peer executives of the Company and
          its affiliated companies.

               (viii)  Vacation and Other Paid Leave.  During the Employment
                       -----------------------------
          Period, the Executive shall be entitled to paid vacation and other
          paid leave in accordance with the most favorable plans, policies,
          programs and practices of the Company and its affiliated companies as
          in effect at any time during the 90-day period immediately preceding
          the Effective Date or, if more favorable to the Executive, as in
          effect generally at any time thereafter with respect to other peer
          executives of the Company and its affiliated companies; provided that
          such vacation or other leave may not be paid vacation or paid leave to
          the extent provided in an election made by the Executive to forgo any
          or all base salary otherwise payable in exchange for the receipt of
          stock options from the Company.

     5.   Termination of Employment.
          -------------------------

          (a)  Death or Disability.  The Executive's employment shall terminate
               -------------------
     automatically upon the Executive's death during the Employment Period.  If
     the Company determines in good faith that the Disability of the Executive
     has occurred during the Employment Period (pursuant to the definition of
     Disability set forth below), it may give to the Executive written notice in
     accordance with Section 13(b) of this Agreement of its intention to
     terminate the Executive's employment.  In such event, the Executive's
     employment with the Company shall terminate effective on the 30th day after
     receipt of such notice by the Executive (the "Disability Effective Date"),
     provided that, within the 30 days after such receipt, the Executive shall
     not have returned to full-time performance of the Executive's duties.  For
     purposes of this Agreement, "Disability" means the absence of the Executive
     from the Executive's duties with the Company on a

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     full-time basis for 180 consecutive business days as a result of incapacity
     due to mental or physical illness which is determined to be total and
     permanent by a physician selected by the Company or its insurers and
     acceptable to the Executive or the Executive's legal representative (such
     agreement as to acceptability not to be withheld unreasonably).

          (b)  Cause.  The Company may terminate the Executive's employment
               -----
     during the Employment Period for Cause.  For purposes of this Agreement,
     "Cause" means (i) an action taken by the Executive involving willful and
     wanton malfeasance involving specifically a wholly wrongful and unlawful
     act, or (ii) the Executive being convicted of a felony.

          (c)  Good Reason.  The Executive's employment may be terminated during
               -----------
     the Employment Period by the Executive for Good Reason.  For purposes of
     this Agreement, "Good Reason" means:

               (i)   The assignment to the Executive of any duties inconsistent
          in any respect with the Executive's position (including status,
          offices, titles and reporting requirements), authority, duties or
          responsibilities as contemplated by Section 4(a) of this Agreement, or
          any other action by the Company which results in a diminution in such
          position, authority, duties or responsibilities, excluding for this
          purpose an isolated, insubstantial and inadvertent action not taken in
          bad faith and which is remedied by the Company promptly after receipt
          of notice thereof given by the Executive;

               (ii)  Any failure by the Company to comply with any of the
          provisions of Section 4(b) of this Agreement, other than an isolated,
          insubstantial and inadvertent failure not occurring in bad faith and
          which is remedied by the Company promptly after receipt of notice
          thereof given by the Executive;

               (iii) The Company's requiring the Executive to be based at any
          office or location other than that described in Section 4(a)(i)(B)
          hereof;

               (iv)  Any purported termination by the Company of the Executive's

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          employment otherwise than as expressly permitted by this Agreement; or

               (v) Any failure by the Company to comply with and satisfy Section
          11(c) of this Agreement.

          (d)  Notice of Termination.  Any termination by the Company for Cause
               ---------------------
     or by the Executive for Good Reason shall be communicated by Notice of
     Termination to the other party hereto given in accordance with Section
     13(b) of this Agreement.  For purposes of this Agreement, a "Notice of
     Termination" means a written notice which (i) indicates the specific
     termination provision in this Agreement relied upon, (ii) to the extent
     applicable sets forth in reasonable detail the facts and circumstances
     claimed to provide a basis for termination of the Executive's employment
     under the provision so indicated and (iii) if the Date of Termination (as
     defined below) is other than the date of receipt of such notice, specifies
     the termination date (which date shall be not more than fifteen days after
     the giving of such notice).  In the case of a termination of the
     Executive's employment for Cause, a Notice of Termination shall include a
     copy of a resolution duly adopted by the affirmative vote of not less than
     two-thirds of the entire membership of the Board at a meeting of the Board
     called and held for the purpose (after reasonable notice to the Executive
     and reasonable opportunity for the Executive, together with the Executive's
     counsel, to be heard before the Board prior to such vote), finding that in
     the good faith opinion of the Board the Executive was guilty of conduct
     constituting Cause. No purported termination of the Executive's employment
     for Cause shall be effective without a Notice of Termination.  The failure
     by the Executive to set forth in the Notice of Termination any fact or
     circumstance which contributes to a showing of Good Reason shall not waive
     any right of the Executive hereunder or preclude the Executive from
     asserting such fact or circumstance in enforcing the Executive's rights
     hereunder.

          (e)  Date of Termination.  "Date of Termination" means the date of
               -------------------
     receipt of the Notice of Termination or any later date specified therein,
     as the case may be; provided, however, that (i) if the Executive's
     employment is terminated by the Company

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     other than for Cause or Disability, the Date of Termination shall be the
     date on which the Company notifies the Executive of such termination and
     (ii) if the Executive's employment is terminated by reason of death or
     Disability, the Date of Termination shall be the date of death of the
     Executive or the Disability Effective Date, as the case may be.

          (f)  Transition Period.  "Transition Period" means the period
               -----------------
     commencing on the Date of Termination and ending on the twenty-four month
     anniversary of the Date of Termination.

     6.   Obligations of the Company upon Termination.
          -------------------------------------------

          (a)  Death.  If the Executive's employment is terminated by reason of
               -----
     the Executive's death during the Employment Period, this Agreement shall
     terminate without further obligations to the Executive's legal
     representatives under this Agreement, other than the following obligations:
     (i) payment of the Executive's Annual Base Salary through the Date of
     Termination to the extent not theretofore paid, (ii) payment of the product
     of (x) the greater of (A) the annual bonus paid or payable, including by
     reason of deferral and before any reduction for the amount of such bonus
     which the Executive may have agreed to forgo in exchange for the receipt of
     stock options from the Company (and annualized for any fiscal year
     consisting of less than twelve full months or for which the Executive has
     been employed for less than twelve full months), for the most recently
     completed fiscal year and (B) the Recent Annual Bonus (such greater amount
     hereafter referred to as the "Highest Annual Bonus") and (y) a fraction,
     the numerator of which is the number of days in the current fiscal year
     through the Date of Termination, and the denominator of which is 365 and
     (iii) payment of any bonus earned or accrued by the Executive for the most
     recently completed fiscal year prior to the Date of Termination and not yet
     paid by the Company, any payment of any compensation previously deferred by
     the Executive (together with any accrued interest thereon) and not yet paid
     by the Company and any pay for vacation and sabbatical earned but not yet
     taken (the amounts described in paragraphs (i), (ii) and (iii) are
     hereafter referred to as "Accrued

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     Obligations"). The amount of the Company's payment obligations under
     paragraphs (i), (ii) and (iii) of the Accrued Obligations shall be reduced
     by the amount of any such Annual Base Salary or Annual Bonus, respectively,
     that the Executive had elected to forgo in exchange for the receipt of
     stock options from the Company (the "Net Accrued Obligations"). All Net
     Accrued Obligations shall be paid to the Executive's estate or beneficiary,
     as applicable, in a lump sum in cash within 30 days of the Date of
     Termination. Anything in this Agreement to the contrary notwithstanding,
     the Executive's estate and family shall be entitled to receive benefits at
     least equal to the most favorable benefits provided generally by the
     Company and any of its affiliated companies to the estates and surviving
     families of peer executives of the Company and such affiliated companies
     under such plans, programs, practices and policies relating to death
     benefits, if any, as in effect generally with respect to other peer
     executives and their estates and families at any time during the 90-day
     period immediately preceding the Effective Date or, if more favorable to
     the Executive and/or the Executive's family, as in effect on the date of
     the Executive's death generally with respect to other peer executives of
     the Company and its affiliated companies and their families; provided that
     this sentence shall not apply to benefits under any incentive, profit-
     sharing, savings and retirement plans, practices, policies and programs
     (including any stock-based plans) to the extent the Executive has made an
     election to forgo awards or contributions under such plan, practice, policy
     or program of the Company in exchange for the receipt of stock options from
     the Company.

          (b) Disability.  If the Executive's employment is terminated by reason
              ----------
     of the Executive's Disability during the Employment Period, this Agreement
     shall terminate without further obligations to the Executive, other than
     for Net Accrued Obligations.  All Net Accrued Obligations shall be paid to
     the Executive in a lump sum in cash within 30 days of the Date of
     Termination.  Anything in this Agreement to the contrary notwithstanding,
     the Executive shall be entitled after the Disability Effective Date to

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     receive disability and other benefits at least equal to the most favorable
     of those generally provided by the Company and its affiliated companies to
     disabled executives and/or their families in accordance with such plans,
     programs, practices and policies relating to disability, if any, as in
     effect generally with respect to other peer executives and their families
     at any time during the 90-day period immediately preceding the Effective
     Date or, if more favorable to the Executive and/or the Executive's family,
     as in effect at any time thereafter generally with respect to other peer
     executives of the Company and its affiliated companies and their families;
     provided that this sentence shall not apply to benefits under any
     incentive, profit-sharing, savings and retirement plans, practices,
     policies and programs (including any stock-based plans) to the extent the
     Executive has made an election to forgo awards or contributions under such
     plan, practice, policy or program of the Company in exchange for the
     receipt of stock options from the Company.

          (c)  Cause; Other than for Good Reason.  If the Executive's employment
               ---------------------------------
     shall be terminated for Cause during the Employment Period, this Agreement
     shall terminate without further obligations to the Executive other than the
     obligation to pay to the Executive Annual Base Salary through the Date of
     Termination plus the amount of any bonus earned or accrued by the Executive
     for the most recently completed fiscal year prior to the Date of
     Termination and any compensation previously deferred by the Executive, in
     each case to the extent theretofore unpaid.  The amount of the Company's
     payment of such Annual Base Salary shall be reduced by the amount of any
     such Annual Base Salary that the Executive has elected to forgo in exchange
     for the receipt of stock options from the Company.  If the Executive
     terminates employment during the Employment Period other than for Good
     Reason, this Agreement shall terminate without further obligations to the
     Executive, other than for Net Accrued Obligations.  All applicable amounts
     due to the Executive pursuant to this Section 6(c) shall be paid to the
     Executive in a lump sum in cash within 30 days of the Date of Termination.

          (d)  Good Reason; Other Than for Cause or Disability.  If, during the
               -----------------------------------------------

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     Employment Period, the Company shall terminate the Executive's employment
     other than for Cause or Disability, or if the Executive shall terminate
     employment under this Agreement for Good Reason:

               (i)  The Company shall pay to the Executive in a lump sum in cash
          within 30 days after the Date of Termination the aggregate of the
          following amounts:

                    (A) All Net Accrued Obligations; and

                    (B) The product of (x) two and (y) the sum of (i) Annual
               Base Salary and (ii) the Highest Annual Bonus; and

                    (C) an amount equal to any unvested account balance in any
               defined contribution plan, and any supplemental and excess
               retirement plans with respect thereto, that would have vested had
               the Executive's employment with the Company continued for the
               duration of the Transition Period;

                    (D) an amount equal to the contributions and accrued
               earnings that would have been made under any defined contribution
               plan, and any supplemental and excess retirement plans with
               respect thereto, had the Executive's employment with the Company
               continued for the duration of the Transition Period and had the
               Executive contributed to such plans at the highest rate permitted
               by such plans, calculated assuming that the terms of such plans
               are no less favorable than those in effect during the 90-day
               period immediately prior to the Effective Date, or if more
               favorable to the Executive, those in effect generally at any time
               thereafter with respect to such plans for other peer executives
               of the Company and its affiliated companies; and

               (ii) For the duration of the Transition Period, or such longer
          period as any plan, program, practice or policy may provide, the
          Company shall continue

                                      -17-
<PAGE>

          benefits to the Executive and/or the Executive's family at least equal
          to those which would have been provided to them in accordance with the
          plans, programs, practices and policies described in Section 4(b)(iv)
          of this Agreement if the Executive's employment had not been
          terminated in accordance with the most favorable plans, practices,
          programs or policies of the Company and its affiliated companies
          applicable generally to other peer executives and their families
          during the 90-day period immediately preceding the Effective Date or,
          if more favorable to the Executive, as in effect generally at any time
          thereafter with respect to other peer executives of the Company and
          its affiliated companies and their families. For purposes of
          determining eligibility of the Executive for retiree benefits pursuant
          to such plans, practices, programs and policies, the Executive shall
          be considered to have remained employed for the duration of the
          Transition Period and to have retired on the last day of such period.
          In lieu of the benefits provided for in this Section 6(d)(ii), the
          Executive may elect within 60 days of the Date of Termination to be
          paid an amount in cash equal to the present value of such benefits on
          an after-tax basis. In determining present value, a discount rate
          equal to the federal mid-term rate under Section 1274(d) of the
          Internal Revenue Code of 1986, as amended (the "Code") shall be
          utilized. The right to continued benefits granted to the Executive
          and/or his family pursuant to this Section 6(d)(ii) shall be in
          addition to any right of continued coverage under any of the plans,
          programs, practices and policies described in Section 4(b)(iv) of this
          Agreement which the Executive and/or his family may be entitled to
          under the Consolidated Omnibus Budget Reconciliation Act of 1985
          ("COBRA") upon any loss of coverage under such plans, programs,
          practices and policies; and

               (iii) The Company shall provide the Executive with outplacement
          services (including office support and secretarial services), from a
          vendor determined by the Company, at a cost not to exceed $30,000.

                                      -18-
<PAGE>

     The amount payable by the Company to the Executive pursuant to Section
     6(d)(i)(B) above will be reduced by any remaining balance in the Stock
     Option Purchase Account; provided that such reduction will not be made to
     the extent that the remaining balance is paid to the Company pursuant to
     any other repayment provision in any other agreement.

     7.   Non-exclusivity of Rights.  Except as otherwise specifically provided
          -------------------------
in this Agreement, nothing in this Agreement shall prevent or limit the
Executive's continuing or future participation in any benefit, bonus, incentive
or other plans, programs, policies or practices, provided by the Company or any
of its affiliated companies and for which the Executive may qualify, nor shall
anything herein limit or otherwise affect such rights as the Executive may have
under any other agreements with the Company or any of its affiliated companies.
Amounts which are vested benefits or which the Executive is otherwise entitled
to receive under any plan, policy, practice or program of the Company or any of
its affiliated companies at or subsequent to the Date of Termination shall be
payable in accordance with such plan, policy, practice or program except as
explicitly modified by this Agreement.

     8.   Full Settlement.  The Company's obligation to make the payments
          ---------------
provided for in this Agreement and otherwise to perform its obligations
hereunder shall not be affected by any set-off, counterclaim, recoupment,
defense or other claim, right or action which the Company may have against the
Executive or others.  In no event shall the Executive be obligated to seek other
employment or take any other action by way of mitigation of, and no amounts
earned by the Executive at such other employment or otherwise shall reduce, the
amounts payable to the Executive under any of the provisions of this Agreement.
The Company agrees to pay, to the full extent permitted by law, all legal fees
and expenses which the Executive may reasonably incur as a result of any contest
in which there is a reasonable basis for the claims or defenses asserted by the
Executive and such claims and defenses are asserted by the Executive in good
faith (regardless of the outcome thereof) by the Company, the Executive or
others of the validity or enforceability of, or liability under, any provision
of this Agreement or any guarantee of performance thereof (including as a result
of any contest by the Executive about the amount of

                                      -19-
<PAGE>

any payment pursuant to Section 9 of this Agreement), plus in each case interest
at the applicable federal rate provided for in Section 7872(f)(2) of the Code;
provided, however, that the Company shall not be obligated to pay any such fees
and expenses, and the Executive shall be obligated to return any such fees and
expenses that were advanced, if a court of competent jurisdiction determines
that the Executive was terminated for Cause.

     9.   Certain Additional Payments by the Company.
          ------------------------------------------

          (a)  Anything in this Agreement to the contrary notwithstanding, in
     the event it shall be determined that any payment or distribution by the
     Company to or for the benefit of the Executive, whether paid or payable or
     distributed or distributable pursuant to the terms of this Agreement or
     otherwise (a "Payment"), would be subject to the excise tax imposed by
     Section 4999 of the Code or any interest or penalties are incurred by the
     Executive with respect to such excise tax (such excise tax, together with
     any such interest and penalties, are hereinafter collectively referred to
     as the "Excise Tax"), then the Executive shall be entitled to receive an
     additional payment (a "Gross-Up Payment") in an amount such that after
     payment by the Executive of all taxes (including any interest or penalties
     imposed with respect to such taxes), including, without limitation, any
     income taxes and Excise Tax imposed upon the Gross-Up Payment, the
     Executive retains an amount of the Gross-Up Payment equal to the Excise Tax
     imposed upon the Payments.

          (b)  Subject to the provisions of Section 9(c), all  determinations
     required to be made under this Section 9, including whether a Gross-Up
     Payment is required and the amount of such Gross-Up Payment and the
     assumptions not specified herein to be used in arriving at such
     determinations, shall be made by the Company's certified public accounting
     firm immediately prior to the Effective Date (the "Accounting Firm").  Such
     determination shall be made within fifteen business days after request
     therefor by notice from the Executive or the Company to such firm and to
     the other party hereto.  In making such determination with respect to any
     matter which is uncertain, the Accounting Firm shall adopt the position
     which it believes more likely than not would be adopted by the

                                      -20-
<PAGE>

     Internal Revenue Service. The Accounting Firm shall provide detailed
     supporting calculations with respect to its determination both to the
     Company and the Executive within such fifteen business day period. All fees
     and expenses of the Accounting Firm under this Section 9(b) shall be borne
     solely by the Company. The initial Gross-Up Payment, if any, as determined
     pursuant to this Section 9(b), shall be paid by the Company to the
     Executive within five days of the receipt of the Accounting Firm's
     determination. If the Accounting Firm determines that no Excise Tax is
     payable by the Executive, it shall furnish the Executive with a written
     opinion that failure to report the Excise Tax on the Executive's applicable
     federal income tax return would not result in the imposition of a
     negligence or similar penalty. Any determination by the Accounting Firm
     shall be final, binding and conclusive upon the Company and the Executive,
     except as provided in the following sentences of this Section 9(b). As a
     result of uncertainty in the application of Section 4999 of the Code at the
     time of the initial determination by the Accounting Firm hereunder, it is
     possible that Gross-Up Payments which will not have been made by the
     Company should have been made ("Underpayment") or that Gross-Up Payments
     which have been made by the Company should not have been made ("Excess
     Gross-Up Payment"), consistent with the calculations required to be made
     hereunder. Either party hereto can request a redetermination by the
     Accounting Firm. An Underpayment can result from a claim by the Internal
     Revenue Service or from a determination by the Accounting Firm. In the
     event that the Internal Revenue Service makes a claim and the Company
     exhausts its remedies pursuant to Section 9(c) and the Executive thereafter
     is required to make a payment of any Excise Tax, the Accounting Firm shall
     promptly determine the amount of the Underpayment that has occurred and any
     such Underpayment shall be promptly paid by the Company to or for the
     benefit of the Executive. In the event that the Accounting Firm determines
     that an Underpayment has occurred, the Accounting Firm shall promptly
     determine the amount of the Underpayment, which shall be promptly paid by
     the Company to or for the benefit of the

                                      -21-
<PAGE>

     Executive.  An Excess Gross-Up Payment can result from a determination by
     the Internal Revenue Service or the Accounting Firm.  If the Accounting
     Firm makes an Excess Gross-Up Payment determination, it must furnish the
     Executive with a written opinion that the basis for its determination would
     be accepted by the Internal Revenue Service and that the Executive has a
     right to a refund of taxes or credit against taxes with respect to the
     Excess Gross-Up Payment.  The Executive shall promptly repay to the Company
     an amount equal to the reduction in aggregate taxes due by the Executive
     resulting from such determination by the Internal Revenue Service or the
     Accounting Firm, provided that the Executive shall only be required to
     repay any portion of such amount that had been paid to the Internal Revenue
     Service to the extent that and when the Executive receives a refund from
     the Internal Revenue Service (or is entitled and able to utilize such
     amount as a credit against other taxes due).

          (c)  The Executive shall notify the Company in writing of any claim by
     the Internal Revenue Service that, if successful, would require the payment
     by the Company of a Gross-Up Payment.  Such notification shall be given as
     soon as practicable but no later than ten business days after the Executive
     is informed in writing of such claim and shall apprise the Company of the
     nature of such claim and the date on which such claim is requested to be
     paid.  The Executive shall not pay such claim prior to the expiration of
     the 30-day period following the date on which the Executive gives such
     notice to the Company (or such shorter period ending on the date that any
     payment of taxes with respect to such claim is due).  If the Company
     notifies the Executive in writing prior to the expiration of such period
     that it desires to contest such claim, the Executive shall:

               (i)  Give the Company any information reasonably requested by the
          Company relating to such claim,

               (ii) Take such action in connection with contesting such claim as
          the Company shall reasonably request in writing from time to time,
          including, without limitation, accepting legal representation with
          respect to such claim by an

                                      -22-
<PAGE>

          attorney reasonably selected by the Company,

               (iii) Cooperate with the Company in good faith in order
          effectively to contest such claim, and

               (iv)  Permit the Company to participate in any proceedings
          relating to such claim;

     provided, however, that the Company shall bear and pay directly all costs
     and expenses (including additional interest and penalties) incurred in
     connection with such contest and shall indemnify and hold the Executive
     harmless, on an after-tax basis, for any taxes, including, without
     limitation, any Excise Tax or income tax, including interest and penalties
     with respect thereto, imposed as a result of such representation and
     payment of costs and expenses.  Without limitation on the foregoing
     provisions of this Section 9(c), the Company shall control all proceedings
     taken in connection with such contest and, at its sole option, may pursue
     or forgo any and all administrative appeals, proceedings, hearings and
     conferences with the taxing authority in respect of such claim and may, at
     its sole option, either direct the Executive to pay the tax claimed and sue
     for a refund or contest the claim in any permissible manner, and the
     Executive agrees to prosecute such contest to a determination before any
     administrative tribunal, in a court of initial jurisdiction and in one or
     more appellate courts, as the Company shall determine; provided, however,
     that if the Company directs the Executive to pay such claim and sue for a
     refund, the Company shall advance the amount of such payment to the
     Executive, on an interest-free basis and shall indemnify and hold the
     Executive harmless, on an after-tax basis, from any taxes, including,
     without limitation, any Excise Tax or income tax, including interest or
     penalties with respect thereto, imposed with respect to such advance or
     with respect to any imputed income with respect to such advance; and
     further provided that any extension of the statute of limitations relating
     to payment of taxes for the taxable year of the Executive with respect to
     which such contested amount is claimed to be due is limited solely to such
     contested amount.  Furthermore, the Company's control

                                      -23-
<PAGE>

     of the contest shall be limited to issues with respect to which a Gross-Up
     Payment would be payable hereunder and the Executive shall be entitled to
     settle or contest, as the case may be, any other issue raised by the
     Internal Revenue Service or any other taxing authority.

          (d)  If, after the receipt by the Executive of an amount advanced by
     the Company pursuant to Section 9(c), the Executive becomes entitled to
     receive any refund with respect to such claim, the Executive shall (subject
     to the Company's complying with the requirements of Section 9(c)) promptly
     pay to the Company the amount of such refund (together with any interest
     paid or credited thereon after taxes applicable thereto).  If, after the
     receipt by the Executive of an amount advanced by the Company pursuant to
     Section 9(c), a determination is made that the Executive shall not be
     entitled to any refund with respect to such claim and the Company does not
     notify the Executive in writing of its intent to contest such denial of
     refund prior to the expiration of 30 days after such determination, then
     such advance shall be forgiven and shall not be required to be repaid and
     the amount of such advance shall offset, to the extent thereof, the amount
     of Gross-Up Payment required to be paid.

          (e)  Payments or distributions by the Company to or for the benefit of
     the Executive pursuant to any "incentive stock options" (within the meaning
     of Section 422 of the Code) granted to the Executive which are vested as of
     the date hereof shall be "Excluded Payments." In the event that Payments
     which include Excluded Payments are subject to Excise Tax, the
     determinations made pursuant to Section 9(b) above shall be calculated with
     respect to all Payments (including any Excluded Payments), but any
     resulting Gross-Up Payment required to be made by the Company shall be
     reduced by the product of the Gross-Up Payment multiplied by a fraction the
     numerator of which is the Excluded Payments and the denominator of which is
     all Payments (including the Excluded Payments).

     10.  Confidential Information.  The Executive shall hold in a fiduciary
          ------------------------
capacity for the

                                      -24-
<PAGE>

benefit of the Company all secret or confidential information, knowledge or data
relating to the Company or any of its affiliated companies, and their respective
businesses, which shall have been obtained by the Executive during the
Executive's employment by the Company or any of its affiliated companies and
which shall not be or become public knowledge (other than by acts by the
Executive or representatives of the Executive in violation of this Agreement).
After termination of the Executive's employment with the Company, the Executive
shall not, without the prior written consent of the Company, communicate or
divulge any such information, knowledge or data to anyone other than the Company
and those designated by it. In no event shall an asserted violation of the
provisions of this Section 10 constitute a basis for deferring or withholding
any amounts otherwise payable to the Executive under this Agreement. The
obligations of this Section 10 are in addition to and do not supersede any other
confidentiality obligations of the Executive to the Company.

     11.  Successors.
          ----------

          (a) This Agreement is personal to the Executive and without the prior
     written consent of the Company shall not be assignable by the Executive
     otherwise than by will or the laws of descent and distribution.  This
     Agreement shall inure to the benefit of and be enforceable by the
     Executive's legal representatives.

          (b) This Agreement shall inure to the benefit of and be binding upon
     the Company and its successors and assigns.

          (c) The Company will require any successor (whether direct or
     indirect, by purchase, merger, consolidation or otherwise) to all or
     substantially all of the business and/or assets of the Company to assume
     expressly and agree to perform this Agreement in the same manner and to the
     same extent that the Company would be required to perform it if no such
     succession had taken place.  As used in this Agreement, "Company" shall
     mean the Company as hereinbefore defined and any successor to its business
     and/or assets as aforesaid which assumes and agrees to perform this
     Agreement by operation of law, or otherwise.

                                      -25-
<PAGE>

     12.  Funding.  This Agreement constitutes an unfunded, unsecured obligation
          -------
of the Company and any payments made hereunder shall be made from the general
assets of the Company.  However, the Company has established a trust pursuant to
a trust agreement and shall make contributions to such trust in accordance with
the terms and conditions of such trust agreement for the purpose of assisting
the Company in meeting its payment obligations under this Agreement.

     13.  Miscellaneous.
          -------------

          (a) This Agreement shall be governed by and construed in accordance
     with the laws of the State of Delaware, without reference to principles of
     conflict of laws.  The captions of this Agreement are not part of the
     provisions hereof and shall have no force or effect.  This Agreement may
     not be amended or modified otherwise than by a written agreement executed
     by the parties hereto or their respective successors and legal
     representatives.

          (b) All notices and other communications hereunder shall be in writing
     and shall be given by hand delivery to the other party or by registered or
     certified mail, return receipt requested, postage prepaid, addressed as
     follows:

          If to the Executive:
          --------------------
          To the address shown on the Company's records for tax reporting
          purposes.

          If to the Company:
          -----------------
          Capital One Financial Corporation
          2980 Fairview Park Drive
          Falls Church, Virginia  22042
          Attention: Officer-in-Charge,
                     Human Resources Division

     or to such other address as either party shall have furnished to the other
     in writing in accordance herewith.  Notice and communications shall be
     effective when actually

                                      -26-
<PAGE>

     received by the addressee.

          (c) The invalidity or unenforceability of any provision of this
     Agreement shall not affect the validity or enforceability of any other
     provision of this Agreement.

          (d) The Company may withhold from any amounts payable under this
     Agreement such federal, state or local taxes as shall be required to be
     withheld pursuant to any applicable law or regulation.

          (e) The Executive's failure to insist upon strict compliance with any
     provision hereof or the failure to assert any right the Executive may have
     hereunder, including, without limitation, the right to terminate employment
     for Good Reason pursuant to Section 5(c)(i)-(v), shall not be deemed to be
     a waiver of such provision or right or any other provision or right
     thereof.

          (f) This Agreement contains the entire understanding of the Company
     and the Executive with respect to the subject matter hereof and supercedes
     in its entirety any prior Change of Control Agreement by and between the
     Company and the Executive.  Until the Effective Date, subject to the terms
     of any other employment agreement between the Executive and the Company,
     the Executive shall continue to be an "employee at will".

                                      -27-
<PAGE>

     IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand
and, pursuant to the authorization from its Board of Directors, the Company has
caused these presents to be executed in its name on its behalf, all as of the
day and year first above written.

                              _________________________________

                              CAPITAL ONE FINANCIAL CORPORATION

                              By:  ____________________________

                                      -28-<PAGE>

                                 Exhibit 10.15
                                 -------------

                              SERVICES AGREEMENT
                      DARCY MASIUS BENTON & BOWLES, INC.
                      & CAPITAL ONE FINANCIAL CORPORATION

     AGREEMENT dated as of April 1, 1999 by and between D'Arcy Masius Benton &
Bowles USA, Inc. (DMB&B or Agency), a wholly owned subsidiary of The MacManus
Group, Inc. (TMG), with offices located at 1675 Broadway, New York, New York
10019, and Capital One Financial Corporation (Client), with offices located at
2980 Fairview Park Drive, Falls Church, Virginia 22042.

     WHEREAS, Agency has been retained to provide services to Client on a non-
exclusive, worldwide basis; and

     WHEREAS, the parties wish to enter into this Agreement setting forth the
terms of such relationship.

     NOW, THEREFORE, the parties agree as follows:

1.   SCOPE OF AGENCY SERVICES
     ------------------------

Agency will provide Client the basic services described on Schedule 1 to this
Agreement.  It is understood that certain services hereunder may be provided by
other TMG operating companies specifically including without limitation, Clarion
Marketing & Communications, Inc., Blue Marble Advanced Communications, Inc.,
MediaVest Worldwide, Inc., and Bromley, Aguilar & Associates.

In addition to such basic services, Agency is prepared to provide a variety of
special services to Client through Agency's facilities or the facilities of
other companies within The MacManus Group organization, as further described
below. Compensation and other terms and conditions for such special services
will be agreed upon in advance by the parties per Appendix I. Such special
services may include but are not limited to items listed on Schedule 2 and/or
Appendix I to this Agreement.

It is further agreed that DMB&B and other TMG operating companies will be the
preferred/first choice advertising agency for the development of Global Brand
Advertising, Local Brand Advertising, and Local Recruitment Advertising by all
Capital One operating companies around the world, as defined in Appendix I.

2.   TERM OF THIS AGREEMENT
     ----------------------

This Agreement shall be effective as of April 1, 1999, and shall continue
through March 31, 2000.  This Agreement shall thereafter automatically renew for
successive periods of one year each, unless this Agreement is terminated under
Section 8 below.

3.   AFFILIATED COMPANIES
     --------------------

                                       1
<PAGE>

Client recognizes that Agency has available to it the integrated resources of
other affiliated companies within The MacManus Group organization, and that it
may use such affiliated companies in the completion of certain production
projects and for other services. A partial list of such affiliated companies is
set forth in Schedule 3 to this Agreement. Client agrees to the involvement of
such companies so long as their prices and quality, which are the basis of any
charge to Client, are approved in advance by Client.

In the event such affiliated companies are used by Client, it is understood that
such services are incremental to the basic services (defined in Appendix I)
under this Agreement, and that compensation for such services will be based on
the scope of the assignment and in accordance with the prevailing compensation
practices as established by that organization and mutually agreed by all the
parties.

Except as set forth herein or otherwise disclosed to Client, Agency will have no
financial interest in any supplier of media services or advertising materials
which will be the basis of any charge to Client. In addition, Agency will
immediately disclose its ownership interest, if any, in any literary or artistic
properties, or radio or television programming which are the basis of any charge
to Client.

4.   AGENCY COMPENSATION
     -------------------

Agency's compensation for the basic services described above will be as set
forth in Appendix I to this Agreement.

5.   BILLING AND PAYMENT POLICY
     --------------------------

Agency's invoices will be rendered and shall be payable in accordance with
Agency's billing and payment policy, which is described in Appendix III to this
Agreement. Agency reserves the right to change such billing and payment terms in
the case of a delinquency in Client's payments or other circumstances which
Agency reasonably believes may affect Client's ability to pay Agency's
compensation and costs as they become due, provided that in the event Agency
does so change the billing and payment terms, Client shall have the right to
terminate this agreement upon 30 days written notice to Agency given within 30
days following such change.

6.   RATE AND OTHER ADJUSTMENTS
     --------------------------

     (1)  Discounts
          ---------

          The exact amount of each cash discount allowed to Agency by media and
          suppliers for prompt payment will be allowed to Client provided
          payment is made to Agency in accordance with the cash discount terms
          stated on Agency's invoices and provided that there is no overdue
          indebtedness owing by Client to Agency at the time of payment.

     (2)  Short Rates
          -----------

          If Agency purchases media space or time for Client in a medium having
          a schedule of graduated rates, and Client uses less space or time than
          contracted, Client agrees to pay Agency the difference, if any,
          between the rate billed and the rate actually earned, in accordance
          with such rate payments Agency may be obligated to make.

     (3)  Lower Rates Earned
          ------------------

                                       2
<PAGE>

          If with respect to any such media purchases Client uses more space or
          time than contracted, Agency shall refund any excess (plus
          commissions, if any) Client may have paid in accordance with such
          refunds made to Agency by media.

     (4)  Post Termination Rate Adjustments
          ---------------------------------

          Upon termination of this Agreement, Agency will, after expiration of
          the applicable termination notice period referred to below, receive
          its share of commission, if any, on short-rate bills and will add back
          its share of commission, if any, to refunds made by media by reason of
          the earning of a lower rate.

7.   INDEMNIFICATION
     ---------------

     A.   Client's Indemnity to Agency
          ----------------------------

          Client shall be responsible for the accuracy, completeness and
          propriety of information concerning its organization, products,
          competitor's products and services which Client furnishes to Agency in
          connection with the performance of this Agreement. Accordingly, Client
          agrees to defend and indemnify Agency against any claim, damage, loss
          or expense, including reasonable attorney's fees and costs, that
          Agency may sustain as the result of any claim, suit or proceeding
          brought or threatened against Agency (i) based on any advertising or
          materials that Agency creates, produces or places for Client and which
          Client approves before its publication, broadcast or distribution (but
          excluding any claims covered by Agency's indemnity under paragraph
          7.B. below); (ii) based on any information or materials supplied to
          Agency by or through Client in connection with Agency's services
          hereunder; (iii) arising out of the nature or use of Client's products
          or services; or (iv) relating to risks which have been brought to
          Client's attention by Agency where Client has elected to proceed.

          Client also agrees to indemnify Agency against any loss Agency may
          sustain resulting from any claim, suit or proceeding made or brought
          against Agency for use of any Agency-produced commercials by Client's
          representatives or by anyone else who obtained the materials from
          Client when such claim, suit or proceeding arises out of Agency's
          obligations under the applicable union codes or contracts relating to
          the production of commercials.

     B.   Agency's Indemnity to Client
          ----------------------------

          Agency shall defend and indemnify Client against any claim, damage,
          loss or expense, including reasonable attorney's fees and costs Client
          may sustain as the result of any claim, suit or proceeding brought or
          threatened against Client arising out of advertising or materials
          prepared by Agency hereunder and pertaining to libel, slander,
          defamation, infringement of title, slogan, trademark, trade dress,
          service mark or service name, copyright infringement, invasion of
          privacy, piracy and/or plagiarism or misappropriation of ideas under
          implied contract, except to the extent that such claims arise from
          information or materials provided by or through Client.

     C.   Cooperation and Settlement
          --------------------------

                                       3
<PAGE>

          Upon the assertion of any claim or the commencement of any suit or
          proceeding against an indemnitee by any third party that may give rise
          to liability of an indemnitor hereunder, the indemnitee shall promptly
          notify the indemnitor of the existence of such claim and shall give
          the indemnitor reasonable opportunity to defend and/or settle the
          claim at its own expense and with counsel of its own selection.
          Indemnitee shall at all times have the right to participate fully in
          such defense at its own expense, and the indemnitee shall not be
          obligated, without its consent, to participate in any settlement which
          it reasonably believes would have an adverse effect on its business.
          The indemnitee shall make available to the indemnitor all books and
          records relating to the claim, and the parties agree to render to each
          other such assistance as may reasonably be requested in order to
          insure a proper and adequate defense. An indemnitee shall not make any
          settlement of any claims which might give rise to liability of an
          indemnitor hereunder without the prior written consent of the
          indemnitor.

     D.   Survival of Indemnity
          ---------------------

          The provisions of this paragraph 7 shall survive the termination of
          this Agreement.

     E.   Third Party Subpoenas
          ---------------------

          In the event either party becomes subject to third party subpoenas for
          documents or testimony in connection with any lawsuit or investigation
          involving the other party's business or affairs, which lawsuit or
          investigation is not otherwise covered by the indemnification
          provisions above, such other party will be responsible for reimbursing
          the first party's reasonable out of pocket costs incurred in complying
          with such subpoenas, including its reasonable attorneys fees and
          expenses.

8.   TERMINATION
     -----------

     A.   Term
          ----

          Either party at its sole election may terminate this Agreement for any
          reason without penalty upon not less than 90 days written notice, but
          in no event may this Agreement be terminated by Client or Agency prior
          to March 31, 2000.

          Notwithstanding the foregoing, in the event either party is in breach
          or default of any material term of this Agreement, and said breach or
          default continues unremedied for a period of twenty (20) days after
          such party's receipt of written notice from the other party specifying
          the grounds of such breach or default, then in addition to all other
          rights and remedies at law or in equity, the other party will have the
          right to terminate this Agreement immediately upon written notice to
          the breaching/defaulting party.

          In addition, either party may terminate this Agreement immediately
          upon written notice to the other party in the event such other party
          (1) makes an assignment for the benefit of creditors; or (2) admits in
          writing its inability to pay its debts as such debts come due; or (3)
          makes any voluntary filing for bankruptcy protection; or (4) becomes
          subject to any involuntary bankruptcy proceedings, which proceedings
          are acquiesced to or not dismissed within thirty (30) days.

                                       4
<PAGE>

B.   Responsibilities and Compensation through Termination
     -----------------------------------------------------

          Except as hereafter provided in this paragraph 8B., the rights, duties
          and responsibilities of the parties shall continue throughout the
          applicable termination notice period described in paragraph 8A. above,
          including Agency's right to receive, as the case may be, (i) Agency's
          fee compensation for each calendar month (or pro-rata portion thereof
          for any partial calendar month) occurring during the first 60 days of
          such notice period and thereafter on the basis of actual hours
          rendered on Client's account and (ii) commission compensation for
          advertisements in any print media whose closing dates fall within such
          notice period, and in any TV, radio, internet or other broadcast media
          whose date of broadcast or transmission falls within such notice
          period.

          In any case, promptly following its receipt of notice of termination
          from Client, Agency will work with Client to wind down and transition
          the servicing of Client's account. In connection therewith, Agency
          will begin to make appropriate reductions in staffing provided that
          Client will not be charged for the time of Agency staff incurred on
          behalf of any other Client of Agency. Accordingly, while Agency will
          continue to render such services as reasonably directed by Client,
          Client recognizes that during the applicable termination notice period
          the level of services to Client's account is likely to be reduced from
          the level of services theretofore provided under this Agreement.

     C.   Non-Cancelable Contracts; Talent Contracts
          ------------------------------------------

          Any non-cancelable contract or commitment made on Client's
          authorization, and still existing at the expiration of this Agreement,
          shall be carried to completion by Agency and paid for by Client unless
          mutually agreed in writing to the contrary, in accordance with the
          provisions of this Agreement. Any materials or services Agency has
          committed to purchase for Client (or any uncompleted work previously
          approved by Client either specifically or as part of a plan) shall be
          paid for by Client and Agency shall receive applicable compensation.

          Any contract Agency has entered into with talent to perform in
          Client's advertising shall, simultaneously on the effective date of
          such termination, be automatically assigned to Client and Client shall
          assume all of the rights and obligations under the contract and Agency
          shall be relieved of any further responsibility or liability. Client
          shall indemnify Agency against any expense or loss that Agency may
          incur as a result of a claim by talent or a third party arising after
          the assignment of the contract.

     D.   Transfer and Ownership
          ----------------------

          Upon the termination of this Agreement, Agency shall return, transfer,
          assign and make available to Client, or its representative, all
          property and materials in Agency's possession or control provided to
          Agency by Client. Also upon termination of this Agreement, Agency
          shall transfer, assign and make available to Client, or its

                                       5
<PAGE>

          representative, all property and materials in Agency's possession or
          control created by Agency for Client, provided that Client has paid
          for such property and materials.

          Agency will also cooperate in transferring, with approval of third
          parties in interest, all reservations, contracts and arrangements with
          advertising media or others for advertising time or space or materials
          yet to be used, and all related rights and claims, upon being duly
          released from such obligations.

          As between Client and Agency, Client shall own all rights including,
          without limitation, all intellectual property rights, to any
          advertising or materials which are produced for Client by Agency prior
          to the effective termination of this Agreement. In this regard, Agency
          shall proceed promptly upon Client's approval to complete production
          of any such materials during the applicable termination notice period.
          Agency agrees to take all steps and to execute such documents as may
          be requested by Client from time to time, and at Client's expense to
          protect or record Client's interests in such materials.

          Agency agrees that Client shall retain all right, title and interest
          in and to its intellectual property, including, without limitation,
          its copyrightable material, trademarks, service marks and trade dress,
          and that all use of such intellectual property shall inure to the
          benefit of the Client.

          As soon as the same is agreed upon by Agency and Client, an incentive
          compensation arrangement for Agency will be added to this Agreement as
          Appendix 1.

          If this Agreement is terminated by either party, all references to
          incentive compensation arrangements in Appendix 1 will be prorated by
          the percentage of the applicable term of the Agreement elapsed at that
          time.

9.   GENERAL PROVISIONS
     ------------------

     A.   Protection of Client's Property
          -------------------------------

          Agency shall take the utmost care and appropriate precautions to
          safeguard Client's property and information entrusted to Agency's
          custody or control.

     B.   Right to Modify Plans
          ---------------------

          Client reserves the right to modify, reject, cancel or stop any and
          all plans, schedules, or work in process. In such event Agency shall
          immediately take proper steps to carry out Client's instructions. In
          turn, Client agrees to assume Agency's liability for all authorized
          commitments; to reimburse Agency for all expenses incurred; to pay
          Agency any related service charges in accordance with the provisions
          of this Agreement; and to indemnify Agency for all claims and actions
          by third parties for damages and expenses that result from carrying
          out Client's instructions.

     C.   Failure of Media and Suppliers
          ------------------------------

                                       6
<PAGE>

          Agency shall endeavor to guard against any loss to Client as the
          result of the failure of media or suppliers to properly execute their
          commitments; but Agency will not be responsible for their failure.

     D.   Agent for Disclosed Principal; Media Purchases
          ----------------------------------------------

          Agency shall act as Client's agent with regard to the purchase of
          materials and production services hereunder, excluding the purchase of
          media time or space. All media will be purchased by Agency as
          principal.

     E.   Services to Client's Designees
          ------------------------------

          Should Client request Agency to make purchases for or render services
          to third parties (such as representatives and distributors), Client
          and the third party shall be jointly and severally liable to Agency
          even though Agency may render invoices to, or in the name of, the
          third party.

     F.   Dealings With Third Parties
          ---------------------------

          Agency will contract, as agent for Client, for third-party purchases
          necessary for the preparation and production of Client's advertising
          and promotion work only in the event Agency does not have the
          personnel and/or facilities to perform such services and only upon the
          prior approval of Client. Such service costs shall be clearly
          identified on Agency estimate sheets and billing statements. Unless
          authorization is obtained from Client, Agency shall not contract with
          any third party.

     G.   Access
          ------

          Agency's records specifically pertaining to the services provided
          hereunder and rebilled to Client (excluding agency payroll and
          administrative records) shall be available to inspection by Client's
          authorized representative during normal business hours at those
          locations where they are regularly maintained, following reasonable
          advance written notice to Agency.

     H.   Notice
          ------

          All notices which either party is required or may desire to give the
          other party hereunder shall be sufficiently given if delivered in
          person or sent by registered or certified mail, or by prepaid
          overnight courier, addressed as follows:

          If to Capital One:
                              Capital One Financial Corporation
                              2980 Fairview Park Drive
                              Falls Church, VA 22042
                              Attention: David Wurfel

          If to DMB&B:        D'Arcy Masius Benton & Bowles USA, Inc.

                                       7
<PAGE>

                              1675 Broadway
                              New York, NY 10019
                              Attention: John F.P. Farrell

                              And a copy to:
                              The MacManus Group, Inc.
                              1675 Broadway
                              New York, NY 10019
                              Attention: Craig D. Brown

          Or to such other address as shall be furnished in writing by any such
          party and such notice shall be deemed to have been given when
          delivered by hand or courier, or three days after being mailed.

     I.   Entire Agreement
          ----------------

          This Agreement constitutes the entire agreement with respect to the
          subject matter hereof, and may only be modified or amended in writing
          signed by the party to be charged.

     J.   Confidentiality
          ---------------

          See Appendix IV, hereby incorporated in this Agreement by this
          reference. It is Agency's responsibility to ensure that all of its
          affiliates doing work hereunder are made aware of Appendix IV.

     K.   International Advertising
          -------------------------

          It is the intent of both parties that the terms and understandings of
          this Agreement apply to the relationship existing between the parties
          in all countries throughout the world, subject to local law, custom
          and practices; and that both parties agree to incorporate these
          understandings to the extent possible and appropriate into individual,
          local country agreements as and where required by law. It is also
          agreed that this Agreement supercedes all prior agreements between the
          parties; and that this Agreement takes preeminence in the event of a
          dispute between local, non-U.S. practices and/or agreements.

     L.   Insurance
          ---------

          Agency, at its own cost and expense, during the term of this
          Agreement, will continuously maintain in force a standard advertising
          liability policy (the "Policy") that provides coverage for Agency and
          Client in a minimum amount of ten million ($10,000,000) dollars with a
          deductible of not more than $5,000,000, for any loss resulting from
          the conduct of Agency or from the creation or publication of
          advertising pursuant to this Agreement.

     M.   Compliance with Laws Relating to Employers
          ------------------------------------------

                                       8
<PAGE>

          Agency will comply, during this Agreement and at Agency's own expense,
          with all applicable federal, state and local laws, rules and
          regulations governing the preparation and publication of advertising
          and with all applicable provisions of the Workers' Compensations laws,
          Unemployment Compensation laws, the Federal Social Security Law, the
          Fair Labor Standard Act, and all other federal, state and local laws
          and regulations which may be applicable to Agency as employer.

     N.   Severability
          ------------

          Whenever possible, each provision of this Agreement will be
          interpreted in such a manner as to be effective and valid under
          applicable law, but if any provision of this Agreement is held to be
          prohibited by or invalid under applicable law, such provision will be
          deemed restated to reflect the original intentions of the parties as
          nearly as possible in accordance with applicable law, and, if capable
          of substantial performance, the remaining provisions of this Agreement
          shall be enforced as if this Agreement was entered into without the
          invalid provision.

     O.   Captions
          --------

          The captions used in this Agreement are for convenience and reference
          only and do not constitute a part of this Agreement and will not be
          deemed to limit, characterize or in any way affect any provision of
          the Agreement, and all provisions of this Agreement will be enforced
          and construed as if no caption had been used in this Agreement.

     P.   Attorney's Fees
          ---------------

          In the event that any action or proceeding is brought in connection
          with this Agreement, the prevailing party shall be entitled to recover
          its costs and reasonable attorney's fees.

     Q.   Applicable Law; Jurisdiction
          ----------------------------

          This Agreement shall be governed in accordance with the laws of the
          State of New York applicable to contracts made and performed entirely
          in that state.  Each party submits to the exclusive jurisdiction of
          the federal and state courts located in the State of New York with
          respect to any action or proceeding relating to this Agreement.

Accepted for:                           Accepted for:
Capital One Financial Corporation       D'Arcy Masius Benton & Bowles USA, Inc.
And its operating companies

   /s/ William J. McDonald                 /s/ John F.P. Farrell
----------------------------------      ----------------------------------------
SVP Brand Management                    John F.P. Farrell

                                       9
<PAGE>

________________________________        ________________________________________
(Date)                                  (Date)

                                       10
<PAGE>

                                  SCHEDULE 1

                               SCOPE OF SERVICES
                               -----------------

Overall
-------

 .    DMB&B and other TMG operating companies will be the preferred/first choice
     advertising and communications agency for those activities assigned to them
     and will provide all of the services customarily performed by a full
     service global advertising and communications agency as needed and
     appropriate under the circumstances and compensation level, for such
     designated products and services as may be assigned to it from time to time
     and for which the Agency is compensated by Client. Agency will also assist
     to Client in the formulation of marketing plans, including advertising
     concepts.

Account Service
---------------

 .    All time spent by the account group, like:
     -  Provision of general advertising and marketing consultation, including
        reasonable familiarization and constant updating of business, product
        performance and distribution.
     -  Briefing, progress and presentation of advertising plans and concepts.
     -  Day-to-day liaison, contact reports, status reports, timetables,
        estimates, advertising budget control.
     -  Liaison with and supervision of outside suppliers (PR, direct marketing,
        promotion agencies, etc.)
     -  Management of the execution of approved advertising concepts and the
        distribution of such advertisements to the media.

Account Planning
----------------

 .    All time spent by the planner, like:
     -  Analysis of marketing and advertising research data.
     -  Desk research on competitive advertising data (but not cost of
        subscribing to this data).
     -  Competitive monitoring, media and creative.
     -  Development of advertising strategies (with Account Service).
     -  Design, commissioning and supervision of local research.
     -  Provision of information on local market developments in new product
        launches, marketing and advertising issues.

Creative
--------

 .    All time spent by the creative department, like:
     -  Development of all international/regional and local communication
        concepts and associated materials, including copy and layouts.
     -  Adaptation of international creative work into local material for all
        markets as appropriate for all media.

                                       11
<PAGE>

     -  Creative input on extensions of the international concept, when
        required, into trade communication below the line material, promotions,
        p.o.s. material, etc. to ensure consistency with main advertising
        message. (Execution of these specific materials is not included in this
        Agreement.)
     -  Liaison and comments on all below-the-line work which needs to be
        produced by outside suppliers, to ensure consistency with main
        advertising messages.

 .    Creative development test and analysis of research results.

Media
-----

 .    All time spent by the media department, like:

     -  Planning and preparation of all media, including overall strategy
        estimated costs, media selection, spaces, spot lengths, timing,
        circulation, viewership details and schedules performance.

Production/Traffic
------------------

 .    All time spent by Production/Traffic department, like:
     -  Obtaining government, broadcast, legal approvals.
     -  Progress and control of international adaptation work and preparation of
        production materials for local use.
     -  Progress and control of creative development, origination and production
        of locally prepared ads.
     -  Negotiation, purchase and supervision of photography, art and mechanical
        work for print and broadcast.
     -  Preparation of production estimates per Client approval and maintaining
        records of all costs.

                                       12
<PAGE>

                                  SCHEDULE 2

                           LIST OF SPECIAL SERVICES
                           ------------------------

In addition to the Basic Services listed in Schedule 1, Agency is prepared to
provide a variety of special services to Client through Agency's own facilities
or those of other companies within TMG's organization. Compensation and other
material terms and conditions for these special services will be as described in
Appendix I. Such services may include without limitation:

A.   Creation and/or production of sales, promotional and collateral materials
     such as point-of-sale materials, leaflets, inserts, catalogues, brochures
     and other similar material.

B.   Direct marketing services, including the creation and production of direct
     mail and direct response advertising, and the placement, insertion or
     distribution of those materials.

C.   Public relation services, including the preparation of publicity releases,
     employee publications, news films, speeches, seminars, radio scripts, and
     television programs.

D.   Staging and conducting sales and other company meetings and designing and
     preparing exhibits for trade and industry shows.

E.   Designs of labels and packaging.

F.   New product concept and development work; line extensions.

G.   Creation, production and placement of yellow pages advertisements.

H.   Recruitment advertising.

I.   Interactive and electronic (on-line) media.

                                       13
<PAGE>

                                  SCHEDULE 3

                              LIST OF AFFILIATES

The following is a partial listing of companies that are subsidiaries,
affiliates, or operational divisions or departments of The MacManus Group, Inc.,
and may be used as a subcontractor for certain materials and services:

     (i)     Advista - multimedia advertising and marketing software

     (ii)    Dialogue Works - direct marketing

     (iii)   Ayer PR - public relations

     (iv)    Blue Marble Advanced Communications, Inc. - interactive and
             electronic marketing

     (v)     Bromley, Aguilar & Associates - Hispanic advertising

     (vi)    Clarion - direct marketing, collateral, promotion and event
             marketing

     (vii)   N.W. Ayer & Partners - full service advertising agency

     (viii)  DMB&B Yellow Pages - for placement of Yellow Page advertising and
             listings

     (ix)    DMB&B Interactive - interactive marketing

     (x)     Highway One - full service advertising agency

     (xi)    Intergroup Marketing & Promotion, Inc. - promotion and business
             communication services

     (xii)   Internal stat department - provide stats

     (xiii)  Manning, Selvage & Lee, Inc. - publicity and public relations

     (xiv)   MediaVest (including TeleVest) - media planning and purchasing,
             network, syndication, cable buying

     (xv)    Medicus Group International, Inc. - health care advertising

     (xvi)   Plugged In Studios - art studio, audio-visual studio

     (xvii)  Sounds & Images - audio visual

     (xviii) Talent Payment Service, Inc. - coordination of payments to
             performing talent

                                       14
<PAGE>

Where used as a subcontractor, partner, or on a direct basis it is understood
that such services, unless specified in this agreement to the contrary, are
incremental to the general agency agreement and that compensation for such
services will be based on the scope of the assignment and in accordance with the
prevailing compensation practices as established by that organization and
mutually agreed by all parties.

Except for the preceding, Agency has no financial interest in, nor is it the
subject of any financial interest of, any supplier of media services or
advertising materials which will be the basis of a charge to Client.

No officer, director, or employee of any supplier (which is not a subsidiary or
affiliated company of Agency) of media services or advertising materials which
is the basis of a charge to Client, has any financial interest in its Agency.

Agency will immediately disclose its ownership interest, if any, in any literary
or artistic properties, or radio or television programming which are the basis
of any charge to Client.

                                       15
<PAGE>

APPENDIX I
Agency Compensation

A.  DESCRIPTION

    The Agency will be compensated via a combination of fees and commissions as
    described below.

B.  CLASSIFICATIONS

    All TMG services provided to Capital One will be classified into one of the
    following classifications for purposes of agency compensation:

          1.  Core Brand Strategic Services
          2.  Advertising & Communications Services
          3.  Marketing & Communications Services
          4.  Media Services
          5.  Interactive Services
          6.  Hispanic Services
          7.  United Kingdom Marketing & Communications Services
          8.  Public Relations

C.  DEFINITIONS

  1.  Core Brand Strategic Services
      .  Senior, multi-disciplined consulting resources to partner with senior
         Capital One executives.
      .  Strategic brand consulting, development and review of marketing
         strategies across all consumer disciplines.
      .  A component of the base fee.

  2.  Advertising & Communications Services
      .  Centered in New York (Credit cards/ Cross sell/ New business) and St.
         Louis (Telecommunications/New business).
      .  All inclusive fee, including production services.  Levels of dedicated
         resource and resultant ability to handle volumes of work differentiate
         limited scope and full services proposals.
      .  Strategic work, planning and analysis, concept development and creative
         supervision and execution for North America.
      .  A component of the base fee.

  3.  Marketing & Communications Services
      .  Retained service resource within Clarion (Direct Marketing) and Highway
         One (Youth Marketing).
      .  Strategic planning and conceptual project development included in
         retainer.
      .  A component of the base fee.
      .  Project execution outside of base core fee will be compensated on a
         project fee basis.
      .  Production services compensated by commission mark-up on production
         costs.

                                       16
<PAGE>

   4.  Media Services
       .  Centered in New York ( MediaVest) and established as a dedicated full
          time resource.
       .  Media planning and analysis compensated as a component of the base
          fee.
       .  Media buying compensated by commission on gross media spending.

   5.  Interactive Services
       .  Led by Blue Marble.
       .  Fee for consulting on all aspects of interactive marketing - strategy
          , media, concept development, sponsorship opportunities, etc.
       .  Execution/production services to be charged separately on a project by
          project basis.

   6.  Hispanic Services
       .  Led by Bromley & Associates.
       .  Full service, integrated Hispanic marketing team.
       .  Specific scope of services and fee to be separately documented and
          agreed.

   7.  United Kingdom Marketing & Communications Services
       . Led by IMP London (supported by all specialists' disciplines within the
         DMB&B UK Group).
       . Specific scope of services and fee to be separately documented and
         agreed.

   8.  Public Relations
       .  Led by MS&L.
       .  Project based remuneration.
       .  Specific scope of services and fee to be separately documented
          agreed.

D.  COMPENSATION  Beginning May 1, 1999

   1.  Base Fee
       .  $7,697,000 per calendar year - calculated in accordance with Appendix
          II.
       .  Invoiced in twelve (12) equal monthly installments beginning May 1,
          1999.
       .  Fee to cover the following services provided in North America only:
          - Core Brand Strategic Services
          - Advertising & Communications Services
          - Marketing & Communication Services
          - Media Services

       .  Eight months after the date of this Agreement or four months before
          the end of the current contract year and on the anniversary of same
          thereafter, Agency will propose an estimated fee for the next account
          year, according to the following formula:

             a.  Agency will estimate the amount of Agency direct staffing to be
                 expended in the next year in servicing Client's account based
                 upon Agency's past history of service to Client and upon review
                 of the upcoming advertising and marketing plans and programs
                 contemplated or approved by Client. In order to estimate the
                 staffing to be expended, Agency will provide a break down by
                 direct staffing person, time and total cost to be allocated to
                 Client's account.

                                       17
<PAGE>

         b.  The proposed next year's fee is subject to Client's written
             approval. In the event a fee is not agreed upon prior to the
             beginning of the applicable date, a constructive fee in the amount
             of 1/12 of the prior year's fee will be due the first month of such
             year and each succeeding month, with retroactive adjustment when
             the negotiated fee is finalized.

   2.  Project fees
       .  Specific scope of services and fee to be separately documented and
          agreed, including:
          - Interactive Services
          - Hispanic Services
          - United Kingdom Marketing & Communications Services
          - Public Relations

       .  Invoiced in equal monthly installments until project completion.

       .  If Client asks Agency to begin work on project and later cancels
          project, Client agrees to cover Agency labor costs incurred to
          cancellation, as well as those costs required to wind-down work.
          Additionally, Client will reimburse Agency for all expended out-of-
          pocket costs associated with the project.

   3.  Media Commissions
       .  Network Television           -   1.50% of net
       .  Network Radio                -   1.75% of net
       .  Syndication/Cable            -   2.00% of net
       .  Spot Television              -   4.00% of net
       .  Spot Radio                   -   4.00% of net
       .  Out of Home                  -   5.00% of net
       .  Print - Newspaper and Trade  -   2.50% of net
       .  Print - Consumer Magazines   -   1.50% of net
       .  Direct Response Media        -   5.00% of net

   3.  Production Commissions    --     billed net

   4.  Incentive Compensation  - See Appendix V (TBD)

E. BILLABLE THIRD PARTY COSTS

   1.  All third party costs are billable and managed accordingly by Agency.

       .  Agency will bill Client at Agency's cost (without markup or profit)
          for reasonable expenditures incurred for artwork, engraving,
          electrotyping, typography, translations and all other materials
          involved in the mechanical production of advertising, radio and
          television production and all their associated costs, talent, music,
          photographs, testimonials and all other advertising adjuncts,
          including expenditures in connection with acquiring authorization for
          the use of the names or photographs of individuals.
       .  Comprehensive layouts and typesetting required by Client, finished
          art, mechanical past-ups and tightly rendered storyboards shall be
          approved by Client in advance and shall be billed to Client at
          Agency's cost (without markup or profit). Notwithstanding the
          foregoing, Agency shall not charge Client for rough/concept layouts
          except for those specific third-party charges which Client shall have
          approved in advance.

                                       18
<PAGE>

    2.  Additional Considerations

        .  Production jobs estimated on a "Quote Basis" with a 10% contingency
           arrangement Agency will not exceed estimated costs by more than 10%
           without Client's written approval. Production costs for local
           adaptations

           a. Production costs for local adaptations of global work (including
              translations, dubs, chromalins, talent, etc.) will be invoiced at
              net cost to the Client locally.

   .   Billable travel
             a.  On creative production jobs, limited to three persons.
             b.  On research jobs, limited to one person.
             c. Travel guidelines reasonably consistent with Client staff travel
            policies - see Appendix VI. Agency will be responsible for ensuring
            that all Agency affiliates servicing Client's account are aware of
            Client's travel guidelines.

F.  BILLING AND PAYMENT PROTOCOLS

   1.  See Appendix III

G.  REPORTS

   1. From time to time Client may request Agency to participate in , and Agency
       will use its best efforts to participate in, a periodic Agency
       performance evaluation with respect to (1) Agency's servicing of Client's
       account, (2) Agency's economics in servicing Client's account, (3) the
       working relationship between Agency and Client, and (4) the
       implementation of this Agreement.

   2.  Within sixty (60) days after the end of the first one hundred and eighty
       (180) days of operating under this Agreement, within sixty (60) days
       after the end of each thereafter and promptly upon termination of this
       Agreement, Agency will provide Client with a written monitoring report
       setting forth the status of projects commenced, under preparation and
       concluded, and Agency's direct staffing time devoted to Client's account.
       Agency represents to Client that Agency collects actual direct staffing
       time from its staff on a weekly basis.

   3.  At any reasonable time during the life of this Agreement and for one year
       thereafter, and upon reasonable prior notice to Agency, Client may
       examine and make reasonable copies of Agency's files and records
       pertaining to Client's advertising ( not including individual
       compensation information). The agency will provide Capital One with a
       certification issued by the Agency's independent auditing firm at Capital
       One's expense (not to exceed $10,000), verifying the accuracy of the
       OverHead rate.

                                       19
<PAGE>

APPENDIX II
-----------

                Capital One Fee Schedule: May 1999 - April 2000
                -----------------------------------------------

Base/Core Fee:

                         May:          $  641,500
                         June:         $  641,500
                         July:         $  641,500
                         August:       $  641,500
                         September:    $  641,500
                         October:      $  641,500
                         November:     $  641,500
                         December:     $  641,500
                         January       $  641,500
                         February      $  641,500
                         March         $  641,500
                         April         $  641,500

Total for Contract Period:             $7,698,000

Incremental Fees:

The following formulas will be followed for calculating fees that are
incremental to the Base/Core Fee:

For retainer work:  Cost of staff plus 132% OverHead (includng benefits) plus
20% profit margin
For project work:  Cost of staff plus 144% OverHead (including benefits) plus
20% profit margin

Incentive Compensation:

TBD

                                       20
<PAGE>

APPENDIX III
------------

U.S. Billing/Payment Policy:
----------------------------
(All other country billing/payment practices per local custom and practice)

A.  TMG billing and payment policy is intended to provide for receipt of Client
    monies in sufficient time for the agency to pay third parties in accordance
    with their payment terms.

<TABLE>
<CAPTION>
Category (if applicable)        Billing Basis            Billing Date(s)                 Due Date(s)
-------------------------       -------------            ---------------                 -----------
<S>                             <C>                      <C>                             <C>
1.  Network and Spot            Contracted Schedule      25/th/ of month                 24/th/ of following month
    Radio-Television

2.  Magazines                   Contracted Schedule      25/th/ of prior month           15/th/ of following month
                                                         of insertion

3.  Newspaper                   Contracted Schedule      25/th/ of month                 15/th/ of following month

4.  Out-of-home                 Contracted Schedule      25/th/ of month                 15/th/ of following month

5.  All Other Media             Contracted Schedule      25/th/ of month                 15/th/ of following month

6.  Advertising Production:

    a. Pre-Funding              100% pre-billed          Beg of month                    15 days following

    b. Talent Residuals         Progress Billing         25/th/ of month                 15/th/ of following month

    c. Research                 100% of Quote            25/th/ of month                 15/th/ of following month

            Exceptions and/or additions, if any, approved by Capital One will be as separately agreed.

7.  Local Adaptation of Global  Progress Billing          25/th/ of month                15/th/ of following month
    Advertising Production

8.  Advertising Service Fee     Appendix II               1st of month                   10 days following

9.  Other Service Fees          As agreed per project     25/th/ of month                15/th/ of following month
</TABLE>

                                       21
<PAGE>

B.   TMG reserves the right to charge interest at the rate of 5% per annum on
     any monies owing more than 30 days from the invoice date, or to change its
     billing and payment terms in the case of delinquency in Client payments to
     TMG or other circumstances which TMG reasonably believes may affect
     Client's ability to pay TMG compensation and costs as they become due,
     including direct payment by Client to third parties, at TMG's discretion.

                                       22

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