Document:

Exhibit 4.1(c)

 Exhibit 4.1(c) 
 EXECUTION COPY 
  

 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 
 as Issuer 
 and 
 THE BANK OF NEW YORK 

as Indenture Trustee 
 CLASS B(2007-4)
TERMS DOCUMENT 
 dated as of May 17, 2007 
 to 
 CARD SERIES INDENTURE SUPPLEMENT 
 dated as of October 9, 2002 
 to 
 ASSET POOL 1 SUPPLEMENT 
 dated as of
October 9, 2002 
 to 
 INDENTURE 
 dated as of October 9, 2002, as amended and restated as of January 13, 2006 
  

 TABLE OF CONTENTS 
  

					
	 	  	Page
	ARTICLE I
	Definitions and Other Provisions of General Application
			
	Section 1.01.	 	 Definitions
	  	1
			
	Section 1.02.	 	 Governing Law
	  	7
			
	Section 1.03.	 	 Counterparts
	  	7
			
	Section 1.04.	 	 Ratification of Indenture, Asset Pool 1 Supplement and Indenture Supplement
	  	7
	
	ARTICLE II
	The Class B(2007-4) Notes
			
	Section 2.01.	 	 Creation and Designation
	  	9
			
	Section 2.02.	 	 Adjustments to Required Subordinated Percentages
	  	9
			
	Section 2.03.	 	 Interest Payment
	  	9
			
	Section 2.04.	 	 Calculation Agent; Determination of LIBOR.
	  	9
			
	Section 2.05.	 	 Payments of Interest and Principal
	  	10
			
	Section 2.06.	 	 Form of Delivery of Class B(2007-4) Notes; Depository; Denominations
	  	10
			
	Section 2.07.	 	 Delivery and Payment for the Class B(2007-4) Notes
	  	11
			
	Section 2.08.	 	 Targeted Deposits to the Accumulation Reserve Account
	  	11
			
	Section 2.09.	 	 [Reserved]
	  	11

  

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 THIS CLASS B(2007-4) TERMS DOCUMENT (this “Terms Document”), by and between CAPITAL ONE
MULTI-ASSET EXECUTION TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at E. A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road,
Wilmington, DE 19805 and THE BANK OF NEW YORK, a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of May 17, 2007. 
 Pursuant to this Terms Document, the Issuer shall create a new tranche of Class B Notes and shall specify the principal terms thereof. 
 ARTICLE I 
 Definitions and Other Provisions
of General Application 
 Section 1.01. Definitions. For all purposes of this Terms Document, except as otherwise expressly provided
or unless the context otherwise requires: 
  

	 	(1)	the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 

  

	 	(2)	all other terms used herein which are defined in the Indenture Supplement, the Asset Pool 1 Supplement or the Indenture, either directly or by reference therein, have the meanings
assigned to them therein; 

  

	 	(3)	all accounting terms not otherwise defined herein have the meanings assigned to them in accordance with generally accepted accounting principles and, except as otherwise herein
expressly provided, the term “generally accepted accounting principles” with respect to any computation required or permitted hereunder means such accounting principles as are generally accepted in the United States of America at the date
of such computation; 

  

	 	(4)	all references in this Terms Document to designated “Articles,” “Sections” and other subdivisions are to the designated Articles, Sections and other subdivisions
of this Terms Document; 

  

	 	(5)	the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Terms Document as a whole and not to any particular
Article, Section or other subdivision; 

  

	 	(6)	in the event that any term or provision contained herein shall conflict with or be inconsistent with any term or provision contained in the Indenture Supplement, the Asset Pool 1
Supplement, the Indenture or the Transfer and Administration Agreement, the terms and provisions of this Terms Document shall be controlling; 

  

	 	(7)	each capitalized term defined herein shall relate only to the Class B(2007-4) Notes and no other Tranche of Notes issued by the Issuer; and 

  

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	 	(8)	“including” and words of similar import will be deemed to be followed by “without limitation.” 

 “Accumulation Period Amount” means $20,833,333.34; provided, however, if the Accumulation Period Length is determined to
be less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture
Supplement. 
 “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period Length is determined to
be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first
Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class B(2007-4) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the
first Distribution Date following and including the March 2008 Distribution Date for which the Quarterly Excess Spread Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier
than 12 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for the Class B(2007-4) Notes pursuant to Section 3.10(b) of the Indenture Supplement,
(iii) the Monthly Period following the first Distribution Date following and including the September 2008 Distribution Date for which the Quarterly Excess Spread Percentage is less than 3%, but in such event the Accumulation Reserve Funding
Period shall not be required to commence earlier than 6 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for the Class B(2007-4) Notes pursuant to
Section 3.10(b) of the Indenture Supplement, and (iv) the Monthly Period following the first Distribution Date following and including the November 2008 Distribution Date for which the Quarterly Excess Spread Percentage is less than
4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 4 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for
the Class B(2007-4) Notes pursuant to Section 3.10(b) of the Indenture Supplement and (y) ending on the close of business on the last day of the Monthly Period preceding the earlier to occur of (i) the Expected Principal
Payment Date for the Class B(2007-4) Notes and (ii) the date on which the Class B(2007-4) Notes are paid in full. 
 “Aggregate
Class B Unencumbered Amount” means an amount equal to the Adjusted Outstanding Dollar Principal Amount of all Class B Notes in the Card Series minus the sum of the Required Subordinated Amount of Class B Notes for all Class A
Notes in the Card Series. 
 “Asset Pool 1 Supplement” means the Asset Pool 1 Supplement dated as of October 9, 2002,
by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
 “Base Rate” means,
with respect to any Monthly Period, the sum of (a) the Card Series Servicing Fee Percentage and (b) the weighted average (based on the Outstanding Dollar Principal Amount of the related Card Series Notes) of the following: 
 (i) in the case of a Tranche of Card Series Dollar Interest-bearing Notes with no Derivative Agreement for interest, the rate of interest
applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche
of Card Series Dollar Interest-bearing Notes in the following Monthly Period; 
  

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 (ii) in the case of a Tranche of Card Series Discount Notes, the rate of accretion
(converted to an accrual rate) of such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Discount Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such
Tranche of Card Series Discount Notes in the following Monthly Period; 
 (iii) in the case of a Tranche of Card Series Notes
with a Performing Derivative Agreement for interest, the rate at which payments by the Issuer to the applicable Derivative Counterparty accrue (prior to the netting of such payments, if applicable) for the period from and including the Monthly
Interest Accrual Date for such Tranche of Card Series Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; provided, however, that in the case of a
Tranche of Card Series Notes with a Performing Derivative Agreement for interest in which the rating on such Tranche of Card Series Notes is not dependant upon the rating of the applicable Derivative Counterparty, the amount determined pursuant to
this clause (iii) will be the higher of (1) the rate determined pursuant to this clause (iii) above and (2) the rate of interest applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for
such Tranche of Card Series Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; and 
 (iv) in the case of a tranche of Card Series Notes with a non-Performing Derivative Agreement for interest, the rate specified for that
date in the related Terms Document. 
 “Calculation Agent” is defined in Section 2.04(a). 
 “Class B(2007-4) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event with respect to the
Class B(2007-4) Notes or (b) an Event of Default and acceleration of the Class B(2007-4) Notes. 
 “Class B(2007-4)
Note” means any Note, substantially in the form set forth in Exhibit A-2 to the Indenture Supplement, designated therein as a Class B(2007-4) Note and duly executed and authenticated in accordance with the Indenture. 
 “Class B(2007-4) Noteholder” means a Person in whose name a Class B(2007-4) Note is registered in the Note Register. 
  

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 “Class B(2007-4) Termination Date” means the earliest to occur of (a) the Principal
Payment Date on which the Outstanding Dollar Principal Amount of the Class B(2007-4) Notes is paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article VI
thereof. 
 “Encumbered Required Subordinated Amount of Class C Notes” means, for the Class B(2007-4) Notes, an amount equal
to the product of (a) the aggregate Required Subordinated Amount of Class C Notes for all Class A Notes in the Card Series with a Required Subordinated Amount of Class B Notes greater than zero and (b) the percentage equivalent of a
fraction, the numerator of which is the Adjusted Outstanding Dollar Principal Amount of the Class B(2007-4) Notes and the denominator of which is the Adjusted Outstanding Dollar Principal Amount of all Class B Notes in the Card Series. 

“Encumbered Required Subordinated Amount of Class D Notes” means, for the Class B(2007-4) Notes, an amount equal to the product of
(a) the aggregate Required Subordinated Amount of Class D Notes for all Class A Notes in the Card Series with a Required Subordinated Amount of Class B Notes greater than zero and (b) the percentage equivalent of a fraction, the
numerator of which is the Adjusted Outstanding Dollar Principal Amount of the Class B(2007-4) Notes and the denominator of which is the Adjusted Outstanding Dollar Principal Amount of all Class B Notes in the Card Series. 
 “Excess Spread Percentage” shall mean, with respect to any Distribution Date, the amount, if any, by which the Portfolio Yield for the
preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
 “Expected Principal Payment Date” means
April 15, 2010. 
 “Initial Dollar Principal Amount” means $250,000,000. 
 “Indenture” means the Indenture dated as of October 9, 2002, as amended and restated as of January 13, 2006 by and between the
Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
 “Indenture Supplement” means the Card
Series Indenture Supplement dated as of October 9, 2002, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
 “Interest Payment Date” means the fifteenth day of each month commencing in June 2007, or if such fifteenth day is not a Business Day, the next succeeding Business Day. 
 “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or
in the case of the initial Interest Payment Date, from and including the Issuance Date) through the day preceding such Interest Payment Date. 
 “Issuance Date” means May 17, 2007. 
 “Legal Maturity Date” means February 15, 2013.

  

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 “LIBOR” means, for any Interest Period, the London interbank offered rate for one-month
United States dollar deposits determined by the Calculation Agent on the LIBOR Determination Date for such Interest Period in accordance with the provisions of Section 2.04. 
 “LIBOR Determination Date” means May 15, 2007 for the period from and including the Issuance Date to but excluding June 15,
2007 and the second London Business Day prior to the commencement of the second and each subsequent Interest Period. 
 “London
Business Day” means any Business Day on which dealings in deposits in United States Dollars are transacted in the London interbank market. 
 “Note Interest Rate” means a rate per annum equal to 0.09% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period. 
 “Paying Agent” means The Bank of New York. 
 “Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction: 
 (a) the numerator of which is equal to the sum of: 
 (i) the aggregate amount of Finance
Charge Amounts allocated to the Card Series with respect to such Monthly Period; plus 
 (ii) the aggregate amount of
Interest Funding sub-Account Earnings on all Tranches of Card Series Notes for such Monthly Period; plus 
 (iii) any
amounts to be treated as Card Series Finance Charge Amounts pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement; minus 
 (iv) the excess, if any, of (1) the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall
over (2) the sum of the aggregate amount to be treated as Card Series Finance Charge Amounts for such Monthly Period pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to
cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of Card Series Notes for such Monthly Period; minus 
 (v) the Card Series Default Amount for such Monthly Period; and 
 (b) the denominator of which is the
numerator used in the calculation of the Card Series Floating Allocation Percentage for such Monthly Period. 
 “Quarterly Excess
Spread Percentage” means, with respect to the April 2008 Distribution Date and each Distribution Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the
immediately preceding three Monthly Periods and the denominator of which is three. 
  

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 “Record Date” means, for any Distribution Date, the last Business Day of the preceding
Monthly Period. 
 “Reference Banks” means four major banks in the London interbank market selected by the Beneficiary.

 “Required Accumulation Reserve sub-Account Amount” means, with respect to any Monthly Period during the Accumulation
Reserve Funding Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class B(2007-4) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by
the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change. 
 “Required Subordinated Amount of Class C Notes” means, for the Class B(2007-4) Notes, an amount equal to the sum of (a) the
Unencumbered Required Subordinated Amount of Class C Notes for such Class B(2007-4) Notes and (b) the Encumbered Required Subordinated Amount of Class C Notes for such Class B(2007-4) Notes; provided, however, that for any date of
determination, unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of
determination for any Tranche of Card Series Notes, the Required Subordinated Amount of Class C Notes for the Class B(2007-4) Notes will not be less than an amount equal to (i) 3.0% of the Initial Dollar Principal Amount of the Class B(2007-4)
Notes, minus (ii) the Required Subordinated Amount of Class D Notes for the Class B(2007-4) Notes; provided further, however, that for any date of determination on or after the occurrence and during the continuation of a
Class B(2007-4) Adverse Event, the Required Subordinated Amount of Class C Notes for the Class B(2007-4) Notes will be the greater of (x) the amount determined above for such date of determination, (y) the amount determined above for the
date immediately prior to the date on which such Class B(2007-4) Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or
(ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the amount determined pursuant to the preceding proviso. 
 “Required Subordinated Amount of Class D Notes” means, for the Class B(2007-4) Notes, an amount equal to the sum of (a) the
Unencumbered Required Subordinated Amount of Class D Notes for such Class B(2007-4) Notes and (b) the Encumbered Required Subordinated Amount of Class D Notes for such Class B(2007-4) Notes; provided, however, that for any date of
determination, unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of
determination for any Tranche of Card Series Notes, the Required Subordinated Amount of Class D Notes for the Class B(2007-4) Notes will not be less than an amount equal to 1.0870% of the Initial Dollar Principal Amount of the Class B(2007-4) Notes,
provided further, however, that for any date of determination on or after the occurrence and during the continuation of a Class B(2007-4) Adverse Event, the Required Subordinated Amount of Class D Notes for the Class B(2007-4) Notes
will be the greatest of (x) the amount determined above for such date of determination, (y) the amount determined above for the 

  

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date immediately prior to the date on which such Class B(2007-4) Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount
for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the
amount determined pursuant to the preceding proviso. 
 “Required Subordinated Percentage of Class C Notes” means, for the
Class B(2007-4) Notes, 7.6087%, subject to adjustment in accordance with Section 2.02. 
 “Required Subordinated
Percentage of Class D Notes” means, for the Class B(2007-4) Notes, 1.0870%, subject to adjustment in accordance with Section 2.02. 
 “Reuters Screen LIBOR01 Page” means the display page currently so designated on the Reuters Monitor Money Rates (or such other page as may replace that page on that service, or such other service as
may be nominated as the information vendor, for the purpose of displaying comparable rates or prices). 
 “Stated Principal
Amount” means $250,000,000. 
 “Unencumbered Amount” means, for the Class B(2007-4) Notes, an amount equal to the
product of (a) the percentage equivalent of a fraction, the numerator of which is the Aggregate Class B Unencumbered Amount and the denominator of which is the Adjusted Outstanding Dollar Principal Amount of all Class B Notes in the Card Series
and (b) the Adjusted Outstanding Dollar Principal Amount of the Class B(2007-4) Notes. 
 “Unencumbered Required Subordinated
Amount of Class C Notes” means, for the Class B(2007-4) Notes, an amount equal to the product of (a) the Unencumbered Amount for the Class B(2007-4) Notes and (b) the Required Subordinated Percentage of Class C Notes for the Class
B(2007-4) Notes. 
 “Unencumbered Required Subordinated Amount of Class D Notes” means, for the Class B(2007-4) Notes, an
amount equal to the product of (a) the Unencumbered Amount for the Class B(2007-4) Notes and (b) the Required Subordinated Percentage of Class D Notes for the Class B(2007-4) Notes. 
 Section 1.02. Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING
SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 1.03. Counterparts. This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an
original, but all such counterparts will together constitute but one and the same instrument. 
 Section 1.04. Ratification of Indenture,
Asset Pool 1 Supplement and Indenture Supplement. As supplemented by this Terms Document, each of the Indenture, the Asset Pool 1 

  

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Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset Pool 1 Supplement as so
supplemented by the Indenture Supplement as so supplemented and this Terms Document shall be read, taken and construed as one and the same instrument. 
 [END OF ARTICLE I] 
  

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 ARTICLE II 
 The Class B(2007-4) Notes 
 Section 2.01. Creation and Designation. There is hereby created a tranche
of Card Series Class B Notes to be issued pursuant to the Indenture, the Asset Pool 1 Supplement and the Indenture Supplement to be known as the “Card Series Class B(2007-4) Notes.” 
 Section 2.02. Adjustments to Required Subordinated Percentages. 
 (a) On any date, the Issuer may increase the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case, for the Class B(2007-4) Notes without the consent
of any Noteholders or the Note Rating Agencies. 
 (b) On any date, the Issuer may reduce the Required Subordinated Percentage of Class C
Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class B(2007-4) Notes, provided that the Issuer has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes of the
Card Series that the change in such percentage will not result in a Ratings Effect with respect to any Outstanding Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion for each Master Trust
and an Issuer Tax Opinion. 
 Section 2.03. Interest Payment. 
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class B(2007-4) Notes shall be an amount equal to the product of (i)(A)
a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, times (B) the Note Interest Rate in effect with respect to such related Interest Period times
(ii) the Outstanding Dollar Principal Amount of the Class B(2007-4) Notes determined as of the Record Date preceding the related Distribution Date. Any interest on the Class B(2007-4) Notes will be calculated on the basis of the actual number
of days in the related Interest Period and a 360-day year. 
 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each
Distribution Date, the Indenture Trustee shall deposit into the Class B(2007-4) Interest Funding sub-Account the portion of Card Series Finance Charge Amounts allocable to the Class B(2007-4) Notes. 
 Section 2.04. Calculation Agent; Determination of LIBOR . 
 (a) The Issuer hereby agrees that for so long as any Class B(2007-4) Notes are Outstanding, there shall at all times be an agent appointed to calculate LIBOR for each Interest Period (the “Calculation
Agent”). The Issuer hereby initially appoints the Indenture Trustee as the Calculation Agent for purposes of determining LIBOR for each Interest Period. The Calculation Agent may be removed by the Issuer at any time. If the Calculation
Agent is unable or unwilling to act as such or is removed by the Issuer, or if the Calculation Agent fails to determine LIBOR for an Interest Period, the Issuer shall promptly appoint a replacement Calculation Agent that does not control or is not
controlled by or under common control with the Issuer or its Affiliates. The Calculation Agent may not resign its duties, and the Issuer may not remove the Calculation Agent, without a successor having been duly appointed. 
  

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 (b) On each LIBOR Determination Date, the Calculation Agent shall determine LIBOR on the basis of the
rate for deposits in United States dollars for a one-month period which appears on REUTERS Screen LIBOR01 Page as of 11:00 a.m., London time, on such date. If such rate does not appear on REUTERS Screen LIBOR01 Page, the rate for that LIBOR
Determination Date shall be determined on the basis of the rates at which deposits in United States dollars are offered by the Reference Banks at approximately 11:00 a.m., London time, on that day to prime banks in the London interbank market for a
one-month period. The Calculation Agent shall request the principal London office of each of the Reference Banks to provide a quotation of its rate. If at least two such quotations are provided, the rate for that LIBOR Determination Date shall be
the arithmetic mean of such quotations. If fewer than two quotations are provided as requested, the rate for that LIBOR Determination Date will be the arithmetic mean of the rates quoted by four major banks in New York City, selected by the
Beneficiary, at approximately 11:00 a.m., New York City time, on that day for loans in United States dollars to leading European banks for a one-month period. 
 (c) The Note Interest Rate applicable to the then current and the immediately preceding Interest Periods may be obtained by telephoning the Indenture Trustee at its corporate trust office at (212) 815-3247 or
such other telephone number as shall be designated by the Indenture Trustee for such purpose by prior written notice by the Indenture Trustee to each Noteholder from time to time. 
 (d) On each LIBOR Determination Date, the Calculation Agent shall send to the Indenture Trustee, the Issuer, the Beneficiary and the Servicer, by
facsimile transmission or electronic transmission, notification of LIBOR for the following Interest Period. 
 Section 2.05. Payments of
Interest and Principal. 
 (a) Any installment of interest or principal, if any, payable on any Class B(2007-4) Note which is punctually
paid or duly provided for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class B(2007-4) Note (or one or more Predecessor
Notes) is registered on the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business
on the third Business Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that
with respect to Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
 (b) The right of the Class B(2007-4) Noteholders to receive payments from the Issuer will terminate on the first Business Day following the Class
B(2007-4) Termination Date. 
 Section 2.06. Form of Delivery of Class B(2007-4) Notes; Depository; Denominations. 
 (a) The Class B(2007-4) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202 and 301(i) of the
Indenture, respectively. 
  

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 (b) The Depository for the Class B(2007-4) Notes shall be The Depository Trust Company, and the Class
B(2007-4) Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class B(2007-4) Notes will be
issued in minimum denominations of $100,000 and integral multiples of $1,000 in excess of that amount. 
 Section 2.07. Delivery and
Payment for the Class B(2007-4) Notes. The Issuer shall execute and deliver the Class B(2007-4) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall deliver the Class B(2007-4) Notes when authenticated, each in
accordance with Section 303 of the Indenture. 
 Section 2.08. Targeted Deposits to the Accumulation Reserve Account.

 The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period
will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 
 Section 2.09. [Reserved]. 
 [END OF ARTICLE II] 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Terms Document to be duly executed, all as of the
day and year first above written. 
  

			
	CAPITAL ONE MULTI-ASSET EXECUTION TRUST
		
	By:	 	DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity, but solely as Owner Trustee on behalf of the Trust
		
	By:	 	 /s/ Michele HY Voon

	Name:	 	Michele HY Voon
	Title:	 	Attorney-in-Fact
		
	By:	 	 /s/ Susan Barstock

	Name:	 	Susan Barstock
	Title:	 	Attorney-in-Fact
	
	THE BANK OF NEW YORK, as Indenture Trustee and not in its individual capacity
		
	By:	 	 /s/ Catherine Murray

	Name:	 	Catherine Murray
	Title:	 	Assistant Vice President

 [Signature Page to the Class B(2007-4) Terms Document]Form of Shareholder Return Based Restricted Stock Units Agreement

 Exhibit 10.1 
 XERIUM TECHNOLOGIES, INC. 
 2007 SHAREHOLDER RETURN BASED RESTRICTED STOCK UNITS 
 AGREEMENT 
 Dated as of May 16,
2007 
 In recognition of the important contributions that
                     (the “Employee”) can make to the success of Xerium Technologies, Inc. (the “Company”) and its
Affiliates (together with the Company, the “Company Group”), pursuant to the Xerium Technologies, Inc. 2005 Equity Incentive Plan (the “Plan”), the Company hereby grants to the Employee the Restricted Stock Units Award described
below. 
  

	1.	The Restricted Stock Units Award. The Company hereby grants to the Employee
                                     Units, subject to the
terms and conditions of this Agreement and the Plan. An Award shall be paid hereunder only to the extent as provided in this Agreement. The Employee’s rights to the Units are subject to the restrictions described in this Agreement and the Plan
in addition to such other restrictions, if any, as may be imposed by law. 

  

	2.	Definitions. The following definitions will apply for purposes of this Agreement. Capitalized terms not defined in the Agreement are used as defined in the Plan, including
without limitation the following terms: “Affiliate”; “Committee”; and “Covered Transaction”. 

  

	 	(a)	“Adjusted Fair Market Value” means the average Fair Market Value over the twenty trading days prior to the Determination Date. 

  

	 	(b)	“Agreement” means this Shareholder Return Based Restricted Stock Units Agreement granted by the Company and agreed to by the Employee. 

  

	 	(c)	“Annual Total Shareholder Return Target” means the target percentage of Total Shareholder Return per year, as established by the Committee on or prior to the Grant
Date. 

  

	 	(d)	“Award” means the grant of Units in accordance with this Agreement. 

  

	 	(e)	“Cause” shall mean (i) the Employee’s conviction of or plea of nolo contendere to a felony or other crime involving moral turpitude; (ii) the
Employee’s fraud, theft or embezzlement committed with respect to the Company or its Affiliates; (iii) the Employee’s acts or failures to act that cause demonstrable harm to the Company or any of its Affiliates; or (iv) the
Employee’s willful and continued failure to perform his or her material duties to the Company and its Affiliates. 

  

	 	(f)	“Common Stock” means common stock of the Company, $0.01 par value. 

  

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	 	(g)	“Determination Date” means each date on which the Total Shareholder Return Requirement is measured; the first Determination Date shall occur on the twelve month
anniversary following the Grant Date, the subsequent three Determination Dates shall occur on each of the succeeding three twelve month anniversaries of the Grant Date. 

  

	 	(h)	“Disability” means that the Employee is unable to perform the functions of his or her position on account of total and permanent disability, as determined by the
Committee in its discretion. 

  

	 	(i)	“Earned” means that portion of an Award that has satisfied the applicable Total Shareholder Return Requirement on a Determination Date, as described in
Section 3, or that has become Earned in connection with a Covered Transaction as described in Section 6. 

  

	 	(j)	“Fair Market Value” means, on the applicable date, or if the applicable date is not a date on which the NYSE is open the next preceding date on which the NYSE is
open, the last sale price with respect to such Common Stock reported on the NYSE or, if on any such date such Common Stock is not quoted by NYSE, the average of the closing bid and asked prices with respect to such Common Stock, as furnished by a
professional market maker making a market in such Common Stock selected by the Committee in good faith; or, if no such market maker is available, the fair market value of such Common Stock as of such day as determined in good faith by the Committee.

  

	 	(k)	“Good Reason Termination” shall mean a termination of employment by the Employee with “Good Reason”, as such term is defined in the written employment
agreement between the Company and the Employee dated May 19, 2005; provided that if such term is not defined in such agreement then clause (5) of Section 7(a) shall be inapplicable. 

  

	 	(l)	“Grant Date” means May 16, 2007. 

  

	 	(m)	“NYSE” means the New York Stock Exchange. 

  

	 	(n)	“Payment Date” means, as to Earned and Vested Units, the earliest of (1) any date the Company determines that is within 30 days of the date on which the Units
become Vested; or (2) immediately preceding a Covered Transaction (with respect to Units that become Vested in connection with the Covered Transaction). 

  

	 	(o)	“Retirement” means the date on which the Employee retires, with the consent of the Committee in its sole discretion, at or after attainment of age 55, provided that
the Employee has completed 5 continuous years of service with the Company Group. 

  

	 	(p)	“Total Shareholder Return” means the total return on one share of Common Stock measured as growth in the per share price of Common Stock (based on the Fair Market
Value on the Grant Date and the Adjusted Fair Market Value on the Determination Date (except as otherwise provided in Section 6 below)) plus dividends paid per share of Common Stock, both from the Grant Date until the Determination Date.

  

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	 	(q)	“Total Shareholder Return Requirement” means the target percentage of Total Shareholder Return required to have been met as of a Determination Date, as described in
Section 3. 

  

	 	(r)	“Unit” means a notional unit which is equivalent to a single share of Common Stock on the Grant Date, subject to Section 8(a) 

  

	 	(s)	“Vested” means that portion of the Award to which the Employee has a nonforfeitable right. 

  

	 	(t)	“Vesting Date” means the date which is four years from the Grant Date, provided that the Employee has been continually employed with the Company Group from the
Grant Date through such date which is four years from the Grant Date. 

  

	3.	Earned Award. 

  

	 	(a)	An Award shall be Earned on the following schedule, provided that the Total Shareholder Return Requirement set forth below is satisfied. In the schedule below, Annual Total
Shareholder Return Target is referred to as “AT”. 

  

					
	 Determination Date
	  	 Total Shareholder Return
 Requirement
	  	 Percentage Earned
 on Determination Date

			
	 First
	  	AT	  	25%
			
	 Second
	  	(1 + AT)2 -1	  	50% (minus any percentage already earned)
			
	 Third
	  	(1 + AT)3 -1	  	75% (minus any percentage already earned)
			
	 Fourth
	  	(1 + AT)4 -1	  	100% (minus any percentage already earned)

  

	 	(b)	 In the event that the Total Shareholder Return Requirement on a Determination Date is not satisfied, but the Total Shareholder Return Requirement for a subsequent
Determination Date is satisfied, that portion of the Award that previously was not Earned shall become Earned. By way of example, (i) in the event that the Total Shareholder Return for the first Determination Date is not satisfied, but at the
second Determination Date, the Total Shareholder Return exceeds the Total Shareholder Return Requirement for such Determination Date, then 50% of the Award will be Earned; and (ii) in the event that the Total Shareholder Return for the First
Determination Date is not satisfied and at the second Determination Date the Total Shareholder Return exceeds the Total Shareholder Return Requirement for the First 

  

 - 3 - 

	 	 
Determination Date but is less than the Total Shareholder Return Requirement for the Second Determination Date, then none of the Award will be Earned at the
Second Determination Date. 

  

	 	(c)	Once Earned pursuant to this Section 3 above, an Award shall remain Earned notwithstanding that the Total Shareholder Return subsequently decreases at any future Determination
Date. For example, in the event that Total Shareholder Return at the Second Determination Date exceeds the Total Shareholder Return Requirement for such Determination Date, but at the Third Determination Date the Total Shareholder Return is less
than the Total Shareholder Return Requirement for the Second Determination Date, 50% of the Award shall remain Earned. 

  

	4.	Vesting. 

 Subject to the terms and conditions of
this Agreement and the Plan, including without limitation Sections 6 and 7 below, (a) this Award or any portion thereof that is Earned shall become Vested upon the Vesting Date, (b) to the extent that, on the Vesting Date, all or any
portion of an Award is not Earned, such Award or the portion thereof that is not then Earned shall not become Vested and shall be forfeited automatically and (c) no Award or any portion thereof shall Vest on the Vesting Date unless the Employee
is then, and since the Grant Date has continuously been, employed by a member of the Company Group. 
  

	5.	Payment of Award. 

 On the Payment Date, the Company
shall issue to the Employee that number of shares of Common Stock as equals that number of Units which have been both Earned and Vested. 
  

	6.	Covered Transaction. 

 In the event of a Covered
Transaction, except as otherwise provided in this Section 6 below, that portion of the Award that is then Earned shall become Vested and that portion of the Award that is not then Earned shall not be Vested and shall be forfeited automatically
unless the Committee determines, in its sole discretion, to accelerate the vesting of all or any portion of the Awards that are not then Vested. 
  

	 	(a)	If, in connection with the occurrence of a Covered Transaction prior to the Vesting Date, the Committee determines that the Total Shareholder Return from the Grant Date through the
date of the Covered Transaction based on the transaction price per share produces a compound annual growth rate of at least the Annual Total Shareholder Return Target, then a portion of the Award shall become Earned and Vested upon the occurrence of
the Covered Transaction equal to the percentage of the Award described in Section 3(a) that would have been Earned had the Total Shareholder Return Requirement been satisfied on the most recent Determination Date prior to the occurrence of the
Covered Transaction. 

  

	 	(b)	 If, in connection with the occurrence of a Covered Transaction prior to the Vesting Date, the Committee determines that 

  

 - 4 - 

	 	 
Total Shareholder Return based on the transaction price per share exceeds the Total Shareholder Return Requirement as of any subsequent Determination Date
that would otherwise have occurred following the date of the Covered Transaction, then the Employee will be deemed to have Earned and become Vested in that percentage of the Award that would have been Earned as though such subsequent Determination
Date occurred immediately prior to the Covered Transaction and Total Shareholder Return were determined as set forth in this clause (b). 

  

	 	(c)	By way of example, in the event that in connection with a Covered Transaction occurring between the second and third Determination Date it is determined that the Total Shareholder
Return is greater than the Total Shareholder Return Requirement for the Third Determination Date but less than the Total Shareholder Return Requirement for the Fourth Determination Date and that the Total Shareholder Requirement had been met for the
first Determination Date but not the second Determination Date, then (x) by operation of clause (a) above an additional 25% of the Award would be Earned and Vested such that a total of 50% of the Award would be Earned and Vested before
application of clause (b) above and (y) by operation of clause (b) above another 25% of the Award would be Earned and Vested such that 75% of the Award would be Earned and Vested at the date of the Covered Transaction.

  

	7.	Termination of Employment. 

  

	 	(a)	Resignation or Termination by the Company. If the Employee ceases to be employed by the Company Group prior to the Vesting Date as a result of resignation, dismissal or any
other reason, then this Award shall be forfeited automatically; provided that in the event that the Employee’s employment terminates prior to the Vesting Date on account of (1) the Employee’s death, (2) Disability,
(3) Retirement, (4) termination by the Company without Cause, or (5) a Good Reason Termination, then that portion of the Award that is then Earned shall be Vested on the date of termination and the remaining portion of the Award shall
be forfeited automatically. 

  

	 	(b)	Rights upon Termination Pursuant to Agreement. The Company may provided rights to the Employee upon in respect of the Award upon termination of employment that differ from
those set forth in Section 7(a) pursuant to an agreement with such Employee. Except to the extent otherwise addressed in any such agreement, the provisions of Section 7(a) and the Plan shall control. 

  

	8.	Miscellaneous. 

  

	 	(a)	Adjustments Based on Certain Changes in the Common Stock. In the event of any stock split, reverse stock split, stock dividend, recapitalization or similar change affecting
the Common Stock, the Award shall be equitably adjusted. 

  

	 	(b)	 No Voting Rights/Dividends. The Award shall not be interpreted to bestow upon the Employee any equity interest or ownership in the Company or any Affiliate
prior to the Payment Date. The Employee is not entitled to vote any Common 

  

 - 5 - 

	 	 
Stock by reason of the granting of this Award (whether or not Earned) or to receive or be credited with any dividends declared and payable on any Common
Stock underlying any Award (whether or not Earned) prior to any Payment Date. 

  

	 	(c)	No Assignment. No right or benefit or payment under the Plan shall be subject to assignment or other transfer nor shall it be liable or subject in any manner to attachment,
garnishment or execution. 

  

	 	(d)	Withholding. The Employee shall pay to the Company, or make provision satisfactory to the Company for payment of, any taxes required by law to be withheld in respect of an
Award, no later than the Payment Date. The Company may, to the extent permitted by law, deduct any such tax obligations from any payment of any kind due to the Employee. Such withheld amounts shall include shares retained from the Award creating the
tax obligation, valued at their Fair Market Value on the date of retention. 

  

	 	(e)	Employment Rights. This Agreement shall not create any right of the Employee to continued employment with the Company or its Affiliates or limit the right of Company or its
Affiliates to terminate the Employee’s employment at any time and shall not create any right of the Employee to employment with the Company or any of its Affiliates. Except to the extent required by applicable law that cannot be waived, the
loss of the Award shall not constitute an element of damages in the event of termination of the Employee’s employment even if the termination is determined to be in violation of an obligation of the Company or its Affiliates to the Employee by
contract or otherwise. 

  

	 	(f)	Unfunded Status. The obligations of the Company hereunder shall be contractual only. The Employee shall rely solely on the unsecured promise of the Company and nothing herein
shall be construed to give the Employee or any other person or persons any right, title, interest or claim in or to any specific asset, fund, reserve, account or property of any kind whatsoever owned by the Company or any Affiliate.

  

	 	(g)	Severability. Any term or provision of this Agreement that is invalid or unenforceable in any situation in any jurisdiction will not affect the validity or enforceability of
the remaining terms and provisions hereof or the validity or enforceability of the offending term or provision in any other situation or in any other jurisdiction. In the event that any provision hereof would, under applicable law, be invalid or
unenforceable in any respect, such provision will be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. 

  

	 	(h)	Governing Law. This Agreement and all actions arising in whole or in part under or in connection herewith, will be governed by and construed in accordance with the domestic
substantive laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of any other jurisdiction. 

  

 - 6 - 

	 	(i)	409A. The Award shall be construed and administered consistent with the intent that it be at all times in compliance with, or exempt from, the requirements of
Section 409A of the Internal Revenue Code and the regulations thereunder. 

  

	 	(j)	Section 162(m). The Award shall be construed and administered consistent with the intent that it qualify to the maximum extent possible as qualifying performance-based
compensation within the meaning of Section 162(m) of the Internal Revenue Code and the regulations thereunder. 

  

	 	(k)	Amendment. This Agreement may be amended only by mutual written agreement of the parties. 

 [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK.] 
  

 - 7 - 

 IN WITNESS WHEREOF, Xerium Technologies, Inc. has executed this Restricted Stock Units Agreement as of
the date first written above. 
  

			
	Xerium Technologies, Inc.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

			
	Acknowledged and agreed:
	
	 EMPLOYEE

		
	 By:
	 	  

	 Name:

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