Document:

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                        CAPITAL ONE FINANCIAL CORPORATION

                             ASSOCIATE SAVINGS PLAN

                             As Amended and Restated

                           Effective January 1, 1997,

                       except as otherwise provided herein

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                                    TABLE OF CONTENTS
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                                                       SECTION I

                                                      DEFINITIONS

         1.1    Account or Accounts .......................................................................          1

         1.2    Account Value .............................................................................          1

         1.3    Administrative Delegate ...................................................................          1

         1.4    After-Tax Contributions ...................................................................          1

         1.5    Before-Tax Contributions ..................................................................          1

         1.6    Beneficiary ...............................................................................          1

         1.7    Board .....................................................................................          2

         1.8    Business Day ..............................................................................          2

         1.9    Code ......................................................................................          2

         1.10   Committee .................................................................................          2

         1.11   Company ...................................................................................          2

         1.12   Company Stock .............................................................................          2

         1.13   Company Stock Fund ........................................................................          2

         1.14   Compensation ..............................................................................          2

         1.15   Distribution Date .........................................................................          4

         1.16   Early Retirement Date .....................................................................          4

         1.17   Effective Date ............................................................................          4

         1.18   Employee ..................................................................................          4

         1.19   Employer ..................................................................................          5

         1.20   Employer Matching Contributions ...........................................................          5

         1.21   Employer Profit-Sharing Contributions .....................................................          5

         1.22   Enrollment Date ...........................................................................          6

         1.23   ERISA .....................................................................................          6

         1.24   Hardship ..................................................................................          6

         1.25   Highly Compensated Employee ...............................................................          6

         1.26   Inactive Participant ......................................................................          6

         1.27   Ineligible Employee .......................................................................          6

         1.28   Insider ...................................................................................          6
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                                TABLE OF CONTENTS
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         1.29   Investment Funds ..........................................................................            7

         1.30   Investment Manager ........................................................................            7

         1.31   Leave of Absence ..........................................................................            7

         1.32   Normal Retirement Date ....................................................................            7

         1.33   One-Year Period of Severance from Service .................................................            7

         1.34   Participant ...............................................................................            8

         1.35   Plan ......................................................................................            8

         1.36   Plan Administrator ........................................................................            8

         1.37   Plan Year .................................................................................            8

         1.38   Pooled Investment Account .................................................................            8

         1.39   Related Company ...........................................................................            8

         1.40   Rule l6b-3 ................................................................................            9

         1.41   Section 415 Compensation ..................................................................            9

         1.42   Service ...................................................................................            9

         1.43   Signet ....................................................................................           10

         1.44   Signet Plan ...............................................................................           10

         1.45   Total Disability ..........................................................................           11

         1.46   Trust Agreement ...........................................................................           11

         1.47   Trust Fund ................................................................................           11

         1.48   Trustee ...................................................................................           11

         1.49   Valuation Date ............................................................................           11

         1.50   Vesting Service ...........................................................................           11

                                                    SECTION II

                                                  PARTICIPATION

         2.1    Participation .............................................................................           12

         2.2    Duration of Participation; Reemployment ...................................................           13

         2.3    Loss of Eligibility with Continued Employment .............................................           13

         2.4    Designation of Beneficiary ................................................................           14

         2.5    Military Service ..........................................................................           15
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                                       ii

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                                TABLE OF CONTENTS
                                   (continued)

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                                                  SECTION III

                                                 CONTRIBUTIONS

         3.1   Before-Tax Contributions ...................................................................           16

         3.2   Employer Matching Contributions ............................................................           17

         3.3   After-Tax Contributions ....................................................................           19

         3.4   Elections as to Contributions; Changes; Suspensions ........................................           19

         3.5   Reemployment ...............................................................................           20

         3.6   Limitation on Contributions ................................................................           21

         3.7   No Right or Duty of Inquiry ................................................................           21

         3.8   Time and Manner of Payment of Contributions ................................................           21

         3.9   Non-Reversion ..............................................................................           22

         3.10  Employer Profit-Sharing Contributions ......................................................           23

                                                  SECTION IV

                                           ACCOUNTS AND ALLOCATIONS

         4.1   Participants' Accounts .....................................................................           25

         4.2   Allocation and Crediting of Contributions and Earnings .....................................           26

         4.3   Annual Addition and Benefit Limitations ....................................................           27

         4.4   Anti-Discrimination Test for Before-Tax Contributions ......................................           33

         4.5   Anti-Discrimination Test for Employer Matching Contributions,
               Performance Contributions and After-Tax Contributions ......................................           37

         4.6   Highly Compensated Employee ................................................................           40

         4.7   Distribution of Excess Contributions .......................................................           40

         4.8   Correction of Error ........................................................................           45

         4.9   Trust Fund as a Single Fund ................................................................           45

                                                  SECTION V

                                    VESTING AND DISTRIBUTION OF ACCOUNTS

         5.1   Vested Interest ............................................................................           46

         5.2   Normal Retirement ..........................................................................           47

         5.3   Early Retirement ...........................................................................           47
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                                      iii

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                               TABLE OF CONTENTS
                                  (continued)

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     5.4  Disability Retirement ................................................     47
     5.5  Death Benefits .......................................................     47
     5.6  Separation from Service ..............................................     48
     5.7  Form and Time of Payment .............................................     49
     5.8  Limitation on Distributions ..........................................     53
     5.9  In-Service Withdrawals ...............................................     54
     5.10 Distribution Values ..................................................     59
     5.11 Location of Missing Participants .....................................     59
     5.12 Benefits to Minors and Incompetents ..................................     60
     5.13 No Guarantee of Values ...............................................     61
     5.14 Loans ................................................................     61
     5.15 Eligible Rollover Distributions ......................................     65
     5.16 Insiders .............................................................     67
     5.17 Payments to Alternate Payees .........................................     67

                                   SECTION VI

                         ADMINISTRATION BY THE COMMITTEE

     6.1  Plan Administrator ...................................................     68
     6.2  Responsibilities .....................................................     68
     6.3  Delegation of Duties .................................................     71
     6.4  Indemnification ......................................................     72
     6.5  Operation ............................................................     72
     6.6  Meetings and Quorum ..................................................     73
     6.7  Compensation .........................................................     73
     6.8  Duties Assigned to Human Resources Division ..........................     73
     6.9  Domestic Relations Orders ............................................     74

                                   SECTION VII

                        DUTIES AND POWERS OF THE TRUSTEE

     7.1  General ..............................................................     76
     7.2  Trust Agreement ......................................................     76
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                                TABLE OF CONTENTS
                                   (continued)

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     7.3  Limitation of Liability ..............................................     76
     7.4  Power of Trustee to Carry Out the Plan ...............................     77
     7.5  Appointment of Investment Managers ...................................     77

                                  SECTION VIII

                              DIRECTED INVESTMENTS

     8.1  Directed Investments .................................................     78
     8.2  Investment Election Changes ..........................................     78
     8.3  Investment Funds .....................................................     79
     8.4  Information ..........................................................     80
     8.5  Limitations on Directed Investments ..................................     82
     8.6  Application to Beneficiaries and Alternate Payees ....................     83
     8.7  Order of Withdrawals and Loans from the Investment Funds .............     83
     8.8  Accounts Not Directed ................................................     84
     8.9  Limitation on Insiders' Interests in Company Stock ...................     84
     8.10 Voting, Tender and Exercise of Similar Rights ........................     84
     8.11 Management of the Company Stock Fund .................................     85
     8.12 Allocation of Income in the Company Stock Fund .......................     86
     8.13 Allocation of Income in Investment Funds .............................     87

                                   SECTION IX

                            AMENDMENT AND TERMINATION

     9.1  Reserved Power to Modify, Suspend or Terminate .......................     88
     9.2  Amendment Requiring Shareholder Approval .............................     88
     9.3  Termination ..........................................................     89

                                    SECTION X

                                CLAIMS PROCEDURE

     10.1 Benefit Claims Procedure .............................................     90

                                   SECTION XI

          ADOPTION OF PLAN BY RELATED COMPANIES AND TRANSFERRED ASSETS
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                                       v

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                               TABLE OF CONTENTS
                                  (continued)

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     11.1  Adoption of the Plan ................................................     92
     11.2  Withdrawal ..........................................................     92
     11.3  Sale of Employer or Division ........................................     93

                                   SECTION XII

                                    TOP HEAVY

     12.1  Top Heavy ...........................................................     94
     12.2  Minimum Allocation ..................................................     95
     12.3  Compensation Limitation .............................................     96
     12.4  Benefit and Contribution Limitations ................................     96

                                  SECTION XIII

                                  MISCELLANEOUS

     13.1  Costs of Administration .............................................     98
     13.2  Charges for Account Transactions ....................................     98
     13.3  Exclusive Benefit Rule ..............................................     98
     13.4  Merger ..............................................................     98
     13.5  No Right to the Fund ................................................     99
     13.6  No Contract of Employment ...........................................     99
     13.7  Non-Alienation of Benefits ..........................................     99
     13.8  Construction and Severability .......................................     99
     13.9  Delegation of Authority .............................................    100
     13.10 Request for Tax Ruling ..............................................    100
     13.11 Changes in Capital Structure ........................................    100
     13.12 Receipt of Rollovers and Trustee-to-Trustee Transfers ...............    100
     13.13 Plan Merger .........................................................    101
     13.14 Gender and Number ...................................................    101
</TABLE>

Appendix A     A-102

Schedule I     A-105

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<PAGE>

                                   BACKGROUND

          Capital One Financial Corporation (the "Company") established and
adopted the Capital One Financial Corporation Employee Savings Plan for the
benefit of its eligible employees, effective January 1, 1995. The Company hereby
amends and restates that plan, effective January 1, 1997 (except as herein
otherwise provided), as the Capital One Financial Corporation Associate Savings
Plan (the "Plan"). The Plan is intended to be a qualified profit sharing plan
with a cash or deferred arrangement under Sections 401(a) and 401(k) of the
Internal Revenue Code of 1986, as amended. The Plan is also intended to qualify
as a Section 404(c) plan for the purposes of the Employee Retirement Income
Security Act of 1974, as amended.

                                       vii

<PAGE>

                                    SECTION I

                                   DEFINITIONS

             Whenever used in the Plan, the following terms shall have the
meanings set forth below unless otherwise expressly provided:

             1.1 Account or Accounts: A Participant's interest in the Trust
Fund, which shall consist of the Participant's Accounts described in Section
4.2.

             1.2 Account Value: The aggregate liquidation value as of any
Business Day of units or shares of each of the Investment Funds in which a
Participant's Account (or Accounts) is invested.

             1.3 Administrative Delegate: A person or institution to whom the
Committee has delegated certain administrative functions pursuant to Section VI.

             1.4 After-Tax Contributions: Contributions made at the election of
a Participant pursuant to Section 3.3. In addition, After-Tax Contributions may
include Before-Tax Contributions that are recharacterized as After-Tax
Contributions pursuant to Section 4.7(b) to the extent permitted by Treasury
regulations.

             1.5 Before-Tax Contributions: Contributions made at the election of
a Participant by the Employer pursuant to Section 3.1.

             1.6 Beneficiary: The person or entity who is to receive, pursuant
to Section 2.4, any benefits payable from the Plan on account of a Participant's
death.

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             1.7 Board: The Board of Directors of the Company, except where
indicated otherwise.

             1.8 Business Day: A day on which securities are or could be traded
on the New York Stock Exchange.

             1.9 Code: The Internal Revenue Code of 1986, as amended. A
reference to a particular section of the Internal Revenue Code shall include a
reference to any regulations issued under the section.

             1.10 Committee: The Committee described in Section VI.

             1.11 Company: Capital One Financial Corporation and any successor
by merger, consolidation or otherwise.

             1.12 Company Stock: The common stock issued by the Company.

             1.13 Company Stock Fund: The investment fund maintained under the
Plan for the investment of Participants' Accounts in shares of Company Stock, as
described in Section VIII.

             1.14 Compensation: The earnings paid by the Employer to a person
with respect to a period during which the person was an Employee, as reported on
Form W-2, or as would be reported on Form W-2 if such amounts were subject to
U.S. taxation, including bonuses, overtime and commissions, and any profit
sharing contributions received in cash, but excluding severance pay.
Compensation shall be determined before taking into account any reduction in a
Participant's earnings resulting from an election to have Before-Tax
Contributions

                                       2

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made on his behalf pursuant to the Plan and before taking into account any
reduction in a Participant's earnings resulting from an election to have pre-tax
contributions made on his behalf to a "cafeteria plan" (within the meaning of
Code Section 125) and, effective with respect to Plan Years commencing on or
after January 1, 2001, pursuant to Code Section 132(f)(4). Compensation shall
not include contributions made by the Employer under this Plan or under any
other plan of deferred compensation maintained by the Employer (other than
Before-Tax Contributions) and variable pay. Compensation shall not include
reimbursements or other expense allowances (such as moving expenses, car
expenses, tuition reimbursement, and meal allowances), fringe benefits (cash and
noncash) , moving expenses, and welfare benefits; provided that payments with
respect to a period of short-term disability shall be considered Compensation.
Compensation shall be determined as follows:

             (a) In the case of an Employee who is employed by two or more
Employers, the Employee's aggregate Compensation from all Employers shall be
deemed to be his Compensation. Effective for Plan Years beginning on and after
January 1, 1994, the total amount of annual Compensation taken into account
under the Plan for an Employee may not exceed $150,000, or an adjusted amount
determined pursuant to Code Sections 401(a)(17) and 415(d).

             (b) For purposes of the anti-discrimination tests of Sections 4.4
and 4.5, "Compensation" means compensation for services performed for the
Employer that is currently includable in gross income, increased by the
Employee's Before-Tax Contributions, elective contributions under a cafeteria
plan and elective contributions under other arrangements permitted to be
included under Code Section 414(s) including, effective with respect to Plan

                                       3

<PAGE>

Years commencing on or after January 1, 2001, elective contributions made under
Code Section 132(f)(4).

             (c) Solely for purposes of Sections 3.2(c), 3.10 and 12.2 hereof,
in no event shall "Compensation" include earnings or other income not subject to
U.S. income taxation.

             1.15 Distribution Date: The date of the distribution of Company
Stock to shareholders of Signet Banking Corporation in a transaction intended to
qualify under Code Section 355.

             1.16 Early Retirement Date: The date upon which a Participant has
attained both age 55 and completed 10 years of Service with the Employer.

             1.17 Effective Date: The effective date of the Plan is January 1,
1995. As to a Related Company, the effective date is the date as of which the
Plan is adopted by the Related Company.

             1.18 Employee: Any person actively employed by the Employer who is
customarily paid by the Employer under (i) its regular United States payroll, or
(ii) its Capital One Worldwide payroll, and who is, in either case, (x) a
domestic citizen or permanent resident of the United States, (y) a nonresident
alien seconded to the United States and employed by Capital One Worldwide,
solely with respect to the period of his employment in the United States, or (z)
a citizen or permanent resident of the United States normally employed by the
Company or a Related Company in the United States seconded abroad to provide
services to Capital One Worldwide outside of the United States; provided,
however, that a person employed abroad may not be an active participant in
another retirement plan or scheme maintained or offered by the

                                       4

<PAGE>

Company or a Related Company. Notwithstanding anything herein to the contrary,
if the Committee determines that the participation of an individual hereunder
would be unlawful or otherwise result in tax consequences to the Employer or the
individual that the Committee determines, in its discretion, may be adverse,
such individual shall not be permitted to participate in the Plan. By way of
example and not by way of limitation, the term Employee includes persons on
vacation leave and persons receiving benefits under the Employer's short-term
disability program, but excludes persons receiving benefits under the Employer's
long-term disability program and persons receiving payments from the Employer
who are not rendering and who are not expected in the foreseeable future to
render services to the Employer. Neither a person designated by the Employer as
an independent contractor nor a person acting only as a director of the Employer
shall be considered an Employee. It is expressly intended that individuals
designated as independent contractors by the Employer and individuals acting
only as a director of the Employer are to be excluded from Plan participation,
even if a court or administrative agency determines that such individuals are
common law employees and not independent contractors or individuals acting only
as directors of the Employer.

             1.19 Employer: The Company and any Related Company that adopts the
Plan, with the consent of the Board, in accordance with Section XI.

             1.20 Employer Matching Contributions: Matching contributions made
by the Employer pursuant to Section 3.2.

             1.21 Employer Profit-Sharing Contributions: Profit-sharing
contributions made by the Employer pursuant to Section 3.10.

                                       5

<PAGE>

          1.22 Enrollment Date: The first day of each calendar month, or as
otherwise determined by the Committee and communicated to Employees.

          1.23 ERISA: The Employee Retirement Income Security Act of 1974, as
amended from time to time, and the regulations issued thereunder.

          1.24 Hardship: Immediate and heavy financial needs of a Participant
that cannot be fulfilled through other reasonably available financial resources
of the Participant, as described in Section 5.9(b).

          1.25 Highly Compensated Employee: An Employee described in Section
4.6.

          1.26 Inactive Participant: An Employee who was a Participant and has
vested benefits under the Plan that have not been paid in full but who, pursuant
to Section 2.3, is no longer entitled to accrue benefits under the Plan.

          1.27 Ineligible Employee: An Employee (i) who is excluded by the terms
and conditions of his employment from participation in the Plan, (ii) who is
covered by a collective bargaining agreement that does not provide for his
participation in the Plan, (iii) who is hired outside the United States by an
Employer primarily to perform functions with respect to operations of the
Employer maintained outside the United States, (iv) who is a "leased employee"
within the meaning of Code Section 414(n), or (v) who, for any reason, at any
time, does not meet the requirements of Section 2.1 for participation.

          1.28 Insider: A person designated as an insider for purposes of
Section 16 of the Securities Exchange Act of 1934, as amended.

                                        6

<PAGE>

          1.29 Investment Funds: The investment funds established under Section
VIII.

          1.30 Investment Manager: A person other than the Trustee or the
Committee --

          (a)  who (i) is registered as an investment advisor under the
Investment Advisers Act of 1940, as amended (ii) is a bank, as defined in that
Act, or (iii) is an insurance company qualified to perform services relating to
the management, acquisition or disposition of assets of a plan under the laws of
more than one state; and

          (b)  who has acknowledged in writing that it is a fiduciary with
respect to the Plan.

          1.31 Leave of Absence: An Employee's absence without loss of
employment status (regardless of whether Compensation is paid) if such absence
is authorized by his Employer pursuant to uniformly applied standards because of
injury, illness, the business of the Employer or personal reasons. Leave of
Absence also includes service in the Armed Forces of the United States, provided
that the Employee returns to the employment of an Employer within the period of
time during which his re-employment rights as a veteran are protected by law.

          1.32 Normal Retirement Date: A Participant's 65/th/ birthday.

          1.33 One-Year Period of Severance from Service: A 12-month period
during which an Employee is not employed by the Employer or a Related Company
following separation from Service. If an Employee is absent on account of
maternity or paternity leave (as described below), the Employee shall not be
considered to have incurred a One-Year Period of Severance from Service for the
first 12-month period in which he would otherwise have had a One-Year Period of
Severance from Service. Maternity or paternity leave means a period during

                                        7

<PAGE>

which an Employee is absent because of (a) the pregnancy of the Employee, (b)
the birth of a child of the Employee, (c) the placement of a child with the
Employee in connection with the Employee's adoption of the child, or (d) the
Employee's caring for a child immediately after the birth or placement of the
child.

          1.34 Participant: An Employee who has met the eligibility requirements
described in Section 2.1 and who has not ceased to be a Participant pursuant to
Section 2.2 or 2.3.

          1.35 Plan: The "Capital One Financial Corporation Associate Savings
Plan," as set forth herein and as amended from time to time.

          1.36 Plan Administrator: The committee responsible for administering
the Plan, as described in Section VI.

          1.37 Plan Year: The calendar year.

          1.38 Pooled Investment Account: An account under the Plan established
pursuant to an administrative services agreement between the Company and the
Trustee.

          1.39 Related Company: Any organization under common control (as
described in Code Sections 414(b) and (c)) with the Company or any organization
that is a member of an affiliated service group (as described in Code Section
414(m)) of which the Company is a member, and any other organization required to
be aggregated with the Company pursuant to Code Section 414(o).

                                       8

<PAGE>

          1.40 Rule l6b-3: Rule l6b-3 promulgated under the Securities Exchange
Act of 1934, as amended, including any corresponding subsequent rule or
amendments thereto.

          1.41 Section 415 Compensation: Compensation within the meaning of
Treas. Reg. Section 1.415-2(d)(10), including any elective deferral (within the
meaning of Code Section 402(g)(3)) and any amount that is contributed by the
Company or a Related Company at the election of the Employee and that is not
includable in the gross income of the Employee by reason of Code Section 125 or,
effective with respect to Plan Years commencing on or after January 1, 2001,
132(f)(4).

     Effective for Plan Years beginning on and after January 1, 1994, the amount
of annual Section 415 Compensation taken into account under the Plan for an
Employee may not exceed $150,000, or an adjusted amount determined pursuant to
Code Sections 401(a)(17) and 415(d).

          1.42 Service: The period of employment of an employee of the Employer
and Related Companies, beginning with the employee's employment commencement
date and ending with his severance from service date, and including the
following:

          (a) An employee's Service shall include periods during which the
employee was on a Leave of Absence.

          (b) An employee's Service shall include periods of service, as
described above, with a predecessor employer whose stock or assets are acquired
by an Employer or a Related Company, except to the extent that the Board
provides otherwise.

          (c) Transfers between Employers or Related Companies shall not be
deemed terminations of Service.

                                       9

<PAGE>

          (d)  An employee's period of employment with Signet before the
Effective Date, or in the case of an employee who becomes a Participant pursuant
to Section 2.1(b), before his employment date, recognized as service under the
Signet Plan. An employee's period of employment with Signet shall not be
recognized as Service under this Plan if (i) the employee became an Employee on
or after March 1, 1996, or (ii) before or in connection with his employment by
the Employer or Related Companies, the employee elected to retire and receive
benefits pursuant to the Signet Plan.

     An employee's employment commencement date is the date on which he first
performs an hour of Service for the Employer or a Related Company. An employee's
severance from service date is the first to occur of (i) the date on which an
Employee terminates employment with the Employer and Related Companies because
he quits, is discharged, dies or retires or (ii) the first anniversary of the
date on which the Employee is absent (with or without pay) from employment for
any other reason (such as vacation, holiday, sickness, disability, leave of
absence or layoff), if the employee is still absent as of the anniversary date.
An employee will be deemed to have severed from Service if he is not rendering
and is not expected in the foreseeable future to render services to the
Employer. This Section shall be administered in accordance with applicable
Department of Labor regulations.

          1.43 Signet: Signet Banking Corporation and its subsidiary
corporations.

          1.44 Signet Plan: The Signet Banking Corporation Employee Savings Plan
as it existed before the Effective Date of the Plan, which shall include any
predecessor defined contribution plans of Signet.

                                       10

<PAGE>

         1.45 Total Disability: Total and permanent disability, as determined by
the Committee, in accordance with the provisions of the Employer's Long-Term
Disability Program.

         1.46 Trust Agreement: The Trust Agreement for the Plan, which was
entered into to create a Trust Fund to receive, hold, invest and dispose of
assets under the Plan.

         1.47 Trust Fund: The assets held by the Trustee under the Trust
Agreement.

         1.48 Trustee: American Express Trust Company, or any successor trustee
appointed by the Company and accepting the trust.

         1.49 Valuation Date: Each Business Day during the Plan Year.

         1.50 Vesting Service: An Employee shall be credited with one year of
Vesting Service for each 12-month period of Service, whether or not completed
consecutively.

                                       11

<PAGE>

                                   SECTION II

                                  PARTICIPATION

     2.1 Participation.

     (a) Prior to March 1, 2002:

         (i)   Each Employee who is not an Ineligible Employee, who was a Signet
employee and an active participant in the Signet Plan immediately before the
Effective Date, and who was an Employee on the Effective Date shall be eligible
to be a Participant in the Plan as of the Effective Date.

         (ii)  Each Employee who is not an Ineligible Employee employed within
twelve months of the Distribution Date who, immediately before his employment,
was a Signet employee and an active participant in the Signet Plan shall be
eligible to participate in the Plan on the date of employment.

         (iii) Each Employee who is regularly scheduled to work a full-time
schedule and who is not an Ineligible Employee and who is not a Participant
pursuant to Subsection (a)(i) or (ii) above shall become a Participant as of the
Enrollment Date on or next following the Employee's completion of six months of
Service.

         (iv)  Each Employee who regularly works less than a full-time schedule,
who is not an Ineligible Employee, and who is not a Participant pursuant to
Subsection (a)(i), (ii), or (iii) above shall become a Participant on the
Enrollment Date next following the later of the date that such person (i)
attains age 21 and (ii) completes 1,000 Hours of

                                       12

<PAGE>

         Service (as that term is defined in 29 C.F.R. (S) 2530.200b-2) during
         any twelve month period that begins on the first day of a calendar
         month.

          (b) On or after March 1, 2002, with respect to an Employee who is not
already a Participant as of March 1, 2002 pursuant to Subsection (a) above, each
Employee who is not an Ineligible Employee shall become a Participant as of the
Enrollment Date on or next following the latest of (i) the date the Employee
completes six months of Service, (ii) the date the Employee attains age 18, and
(iii) March 1, 2002.

          2.2 Duration of Participation; Reemployment. A Participant shall
continue to be a Participant until he no longer has assets credited to his
Account. If a Participant or a person who was formerly a Participant terminates
employment and then is reemployed by the Employer as an eligible Employee, he
shall resume participation under the Plan as of the date of his reemployment.

          2.3 Loss of Eligibility with Continued Employment.

          (a) If a Participant becomes an Ineligible Employee, or if a
Participant who continues in the employ of an Employer ceases to have
contributions made on his behalf for any other reason, then the Participant
shall become an Inactive Participant.

          (b) If the Committee determines that a Participant who continues in
the employ of the Employer has become an Inactive Participant, then his
Before-Tax Contributions shall terminate on a date fixed by the Committee and he
shall not be entitled to share in any contributions under Sections 3.2, 3.3 and
3.10, except as otherwise provided herein. All Accounts of an Inactive
Participant shall continue to be held in, and subject to the provisions of,

                                       13

<PAGE>

the Plan and receive allocations of Trust Fund earnings pursuant to Section 4.2,
but shall not receive allocations of contributions. An Inactive Participant's
Account balance shall be distributed upon his separation from Service, pursuant
to Section V.

          2.4 Designation of Beneficiary.

          (a) If a Participant is married, the Participant's Beneficiary shall
be his surviving spouse, and no written Beneficiary designation is required. If
a Participant is not married, or if a married Participant wishes to designate
someone other than his spouse as his Beneficiary, the Participant's Beneficiary
shall be the person designated by the Participant on a form and in the manner
designated by the Committee; provided that if a married Participant designates
someone other than his spouse as his Beneficiary, the Participant's Beneficiary
designation shall be effective only if the spouse consents to the designation in
a writing witnessed by either a Plan representative or a notary public.

          (b) If, at the time of his death, the Participant has no surviving
spouse or designated Beneficiary, the Beneficiary shall be the beneficiary
designated under the Employer-provided group life insurance program or split
dollar life insurance program, whichever is applicable. If there is no such
designation, or if it is ineffective for any reason, the Beneficiary shall be
the Participant's estate, provided that satisfactory evidence of the appointment
of a personal representative is presented to the Committee within 90 days after
the Participant's death, or such other time period as determined by the
Committee. If no such evidence is received by the Committee, then the deceased
Participant's Beneficiary shall be the Participant's distributees, as provided
by law.

                                       14

<PAGE>

          (c) A Participant may designate a person or entity to be his
Beneficiary by filing a properly completed and executed form with the Committee.
If a plan is merged into this Plan, Beneficiary designations made with respect
to this Plan and the Beneficiary designation provisions of this Plan shall be
controlling and shall supersede any beneficiary designations made with respect
to the prior plan.

          (d) The interpretation of the Committee with respect to the
designation of a Beneficiary shall be binding and conclusive upon all parties,
and no person who claims to be a Beneficiary or any other person shall have the
right to question any action of the Committee that, in the judgment of the
Committee, fulfills the intent of the Participant who filed the designation. A
Participant's Beneficiary is bound by the terms of the Plan.

          2.5 Military Service. Notwithstanding any provision of the Plan to the
contrary, contributions, benefits and service credit with respect to qualified
military service shall be provided in accordance with Code Section 414(u). The
Committee may reasonably request that a Participant demonstrate that he has
engaged in qualified military service within the meaning of Code Section 414(u).

                                       15

<PAGE>

                                  Section III

                                 CONTRIBUTIONS

          3.1 Before-Tax Contributions.

          (a) A Participant who is an Employee may elect to have Before-Tax
Contributions made on his behalf by entering into a salary reduction agreement
with his Employer in such form and at such time as the Committee shall
designate. Pursuant to the agreement, his Employer shall agree to reduce the
Participant's Compensation by a designated percentage and to contribute that
designated percentage to the Plan for the benefit of the Participant. The
designated percentage may be from 1% to 15% of the Participant's Compensation in
whole percentages of Compensation, provided that:

              (i)  at any time during the Plan Year, the Committee may limit the
     percentage of Compensation that may be contributed for the benefit of
     Highly Compensated Employees, and

              (ii) the maximum amount of Before-Tax Contributions that may be
     made on behalf of a Participant during a calendar year is $7,000, or an
     adjusted amount as determined pursuant to Code Sections 402(g) and 415(d).

          (b) The annual limit described in Subsection (a)(ii) as adjusted from
time to time, applies to all Before-Tax Contributions made on behalf of the
Participant under this Plan and under all other plans qualified under Code
Section 401(k), and it applies to other amounts required to be aggregated under
Code Section 402(g)(3). If a Participant participates in another plan that is
subject to the annual limit described in Subsection (a), the Participant may
allocate

                                       16

<PAGE>

any contributions in excess of the annual limit among the plans in which he
participates. The Committee shall determine the amount of excess Before-Tax
Contributions attributable to this Plan.

          3.2 Employer Matching Contributions.

          (a) The Employer shall make a contribution to each Participant's
Employer Matching Contributions Account in an amount equal to 50% of that
portion of the Participant's Before-Tax Contributions for the payroll period
that does not exceed in the aggregate 6% of the Participant's Compensation in
such payroll period. The Employer shall make no Employer Matching Contribution
with respect to:

              (i) any After-Tax Contributions made by the Participant under
     Section 3.3,

              (ii) the portion of a Participant's Before-Tax Contributions that
     exceeds 6% of the Participant's Compensation, or

              (iii) any Before-Tax Contribution that is distributed to the
     Participant pursuant to Section 4.7.

          (b) Employer Matching Contributions shall be made with respect to a
Participant's Before-Tax Contributions, regardless of whether the Participant
ceases to be an Employee before the Employer Matching Contribution is made. If
more than one Employer has adopted the Plan, each Employer shall make
contributions for its own Participants. The percentage of Employer Matching
Contributions (made under either Subsection (a), above, or

                                       17

<PAGE>

Subsection (c), below) may be adjusted by the Employer to the extent necessary
to comply with the contribution limits and anti-discrimination rules described
in Sections 3.6, 4.4 and 4.5.

          (c) For the first Plan Year beginning on or after the Effective Date,
and for Plan Years beginning thereafter, and pursuant to the Company reaching
pre-established fiscal performance targets approved annually by the Compensation
Committee of the Board, the Employer shall make an additional contribution to
the Employer Matching Contributions Account of each person who was a Participant
during the Plan Year in an amount equal to 3% of the Participant's Eligible Base
Salary/Draw; provided, however, effective January 1, 2002, that (i) the person
is an Employee as of the end of the Plan Year for which the contribution is made
(the "Contribution Plan Year"), (ii) the person was actively making Before-Tax
Contributions to the Plan as of the last day within the Contribution Plan Year
as of which he was eligible to do so, unless he was precluded from making
Before-Tax Contributions after such day pursuant to Sections 3.1(a) or
4.4(a)(i), and (iii) the person, if not an Employee as of the last day of the
Contribution Plan Year, would be considered an Employee on such date but for the
fact that (x) he was employed abroad by a Related Company other than Capital One
Worldwide, and (y) was being paid by the Related Company on a payroll other than
the regular United States or Capital One Worldwide payroll. For purposes of this
Subsection (c), "Eligible Base Salary/Draw" is defined as semi-monthly base
earnings, exclusive of all bonuses, commissions, incentives, and all other
payments and awards, received during the Plan Year while Before-Tax
Contributions were being made to the Plan on his behalf (or would have been made
to the Plan on his behalf but for the restrictions of Section 3.1(a) or
4.4(a)(i) hereof).

                                       18

<PAGE>

          3.3 After-Tax Contributions.

          (a) Each Participant who is an Employee shall have the right to make
voluntary After-Tax Contributions whether or not such Participant contributes to
the Plan on a Before-Tax Contribution basis.

          (b) After-Tax Contributions are made to the Plan by means of payroll
deduction from a Participant's net Compensation (after payment of federal income
taxes), in an amount equal to not less than 1% nor more than 9% of the
Compensation he receives from the Employer for each payroll period.
Contributions made by a Participant pursuant to this Section must be made in
whole percentages of Compensation; provided, however, that the contribution
percentage amount may be adjusted by the Employer to the extent necessary to
comply with the anti-discrimination rules described in Sections 4.4 and 4.5.

          3.4 Elections as to Contributions; Changes; Suspensions.

          (a) A Participant may elect to have Before-Tax Contributions made on
his behalf, to authorize the Employer to deduct After-Tax Contributions from his
Compensation, to change the contribution percentage prospectively, or to request
a suspension or resumption of contributions by filing an appropriate
application, salary reduction agreement, or request with the Committee at such
time and in such form (including telephonic communication) as the Committee
shall designate. Except as otherwise provided in Section 5.9(e), the Committee
shall allow Participants to make such elections at any time. All elections made
by a Participant shall continue in force until they are changed or until the
Participant ceases to be a Participant.

                                       19

<PAGE>

          (b) When an Employee becomes a Participant, the Employer shall,
commencing as of the first day of the payroll period coinciding with or next
following the Participant's Enrollment Date:

              (i)  in the case of Before-Tax Contributions, reduce the
     Compensation otherwise payable to the Participant by the amount of such
     Before-Tax Contributions; and

              (ii) in the case of After-Tax Contributions, deduct such
     contributions from the Participant's Compensation.

          (c) A Participant's right to have Before-Tax Contributions made on his
behalf shall be automatically suspended during any Leave of Absence during which
the Participant receives no Compensation. When the Participant returns to
employment with his Employer, his contributions shall resume as of the date of
his return to employment at the contribution rate in effect at the time his
Leave of Absence began, unless the Participant elects to suspend or change the
rate of contributions.

          (d) A Participant shall not be permitted to make up suspended
contributions, and Employer Matching Contributions shall not be made for a
Participant with respect to any suspended contributions.

          3.5 Reemployment. A Participant whose employment terminates and who is
later re-employed by the Employer may elect to resume contributions as of his
reemployment date by making the election described in Section 3.1.

                                       20

<PAGE>

       3.6 Limitation on Contributions. Subject to Section 4.3, each Employer's
aggregate employer contributions and Before-Tax Contributions for any Plan Year
shall be conditioned on deductibility under Code Section 404 and shall not
exceed 15% of the total compensation paid to or accrued with respect to all of
its Participants during the Plan Year as provided in Code Section 404(a)(3) and
Treasury regulations thereunder. If for any Plan Year the Employer maintains a
pension or annuity plan qualified under Code Section 401 in addition to the
Plan, then the total contributions made for the Plan Year to the Plan and the
pension or annuity plan shall not exceed in the aggregate 25% of the total
compensation paid to or accrued with respect to Participants in all such plans,
or such greater or lesser percentage as may be allowed as a deduction from the
gross income of the Employer under Code Section 404(a)(7) and Treasury
regulations thereunder.

       3.7 No Right or Duty of Inquiry. Neither the Trustee, the Committee, nor
any Participant shall have any right or duty to inquire into the amount of the
Employer's annual contribution or the method used in determining the amount of
the Employer's contribution. The Trustee shall be accountable only for funds
actually received by him.

       3.8 Time and Manner of Payment of Contributions. Before-Tax Contributions
and Employer Matching Contributions shall be paid to the Trustee on a regular
basis determined by the Committee; provided that, unless Treasury regulations
otherwise require, all Before-Tax Contributions and After-Tax Contributions
shall generally be paid to the Trustee as soon as such contributions can
reasonably be segregated from the Employer's general assets, but in no event
later than the 15th business day of the month following the month in which such
amounts would otherwise have been payable to the Participant in cash.

                                       21

<PAGE>

       3.9 Non-Reversion. It shall be impossible, at any time before
satisfaction of all liabilities with respect to Participants and their
Beneficiaries, for any part of the principal or income of the Trust Fund to be
used for, or diverted to, purposes other than for the exclusive benefit of such
Participants and their Beneficiaries. However, the Employer's contributions
under the Plan for any particular Plan Year shall be conditioned upon (i) the
Plan initially being a qualified plan under Code Section 401(a) for the Plan
Year and (ii) the contribution being deductible under Code Section 404. If,
after the Employer's contribution has been made, it is determined that a
condition described in (i) or (ii) was not satisfied with respect to such
contribution, or that all or a portion of such contribution was made under a
mistake of fact, then the Trustee shall refund to the Employer within one year
of the date the contribution is remitted to the Trustee, if such contribution is
made by reason of a mistake of fact, or within one year of the denial of
qualification or disallowance of the deduction, the amount of the contribution
that was affected by the mistake of fact, or by a condition described in (i) or
(ii) not being satisfied, subject to the following rules:

       (a) The Trustee shall be under no obligation to make such refund unless a
written direction of the refund signed by an authorized representative of the
Employer, is submitted to the Trustee.

       (b) Earnings attributable to the refundable amount shall not be refunded,
but the refundable amount shall be reduced by a proportionate share of any
losses of the Trust Fund from the date of crediting by the Trustee to the date
of segregation.

       (c) The Trustee shall be under no obligation to verify that the refund is
allowable or timely and shall be entitled to rely on the Employer's written
direction.

                                       22

<PAGE>

       3.10 Employer Profit-Sharing Contributions.

       (a)  The Employer shall as soon as practicable following the end of each
calendar quarter allocate an amount to the Employer Profit-Sharing Contributions
Account of each Participant who, effective January 1, 2002, (i) was a
Participant at any time during such calendar quarter, (ii) was an Employee
(other than an Ineligible Employee) on the last day of such calendar quarter,
and (iii) if not an Employee as of the last day of the calendar quarter, would
be considered an Employee on such date but for the fact that (x) he was employed
abroad by a Related Company other than Capital One Worldwide, and (y) was being
paid by the Related Company on a payroll other than the regular United States or
Capital One Worldwide payroll. The amount allocated pursuant to this Subsection
(a) shall be an amount equal to 3% of such person's Compensation paid with
respect to the period during such calendar quarter that he was an Employee.

       (b)  The Employer shall as soon as practicable following the end of each
calendar quarter allocate to the Employer Profit-Sharing Contributions Account
of each Participant listed in Appendix A who, effective January 1, 2002, was a
Participant at any time during such calendar quarter the amount set forth in
Appendix A with respect to the Participant, provided that such an allocation
shall be made only if the person (i) was an Employee (other than as an
Ineligible Employee) on the last day of such calendar quarter, and (ii) if not
an Employee on the last day of the calendar quarter, would be considered an
Employee on such date but for the fact that (x) he was employed abroad by a
Related Company other than Capital One Worldwide, and (y) was being paid by the
Related Company on a payroll other than the regular United States or Capital One
Worldwide payroll. The allocation described in this Subsection (b) shall be in
addition to the allocation described in Section 3.10(a).

                                       23

<PAGE>

       (c) The Employer shall make a contribution to the Plan with respect to
the allocations described in this Section 3.10 as soon as practicable following
the end of the calendar quarter with respect to which the allocations are made,
provided that the contribution shall in no event be paid to the Trustee later
than the time prescribed by law for filing the Company's federal income tax
return for the taxable year with respect to which the contribution is made
(including extensions thereof).

                                       24

<PAGE>

                                   SECTION VI

                            ACCOUNTS AND ALLOCATIONS

       4.1 Participants' Accounts. The following Accounts, with such
sub-accounts as the Committee deems appropriate, shall be maintained for each
Participant:

       (a) Before-Tax Contributions Account, to which shall be credited the
amount in the Participant's before-tax contributions account under the Signet
Plan, qualified nonelective employer contributions made to the Signet Plan
before January 1, 1986, and earnings thereon, and Before-Tax Contributions made
pursuant to Section 3.1 and earnings thereon.

       (b) After-Tax Contributions Account, to which shall be credited the
amount in the Participant's after-tax contributions account under the Signet
Plan, and voluntary After-Tax Contributions made pursuant to Section 3.3 and
Before-Tax Contributions that are recharacterized as After-Tax Contributions
pursuant to Section 4.7 (in accordance with Treasury regulations) and earnings
thereon. This account shall also include "Thrift Contributions" made to the
Signet Plan as it existed before January 1, 1976.

       (c) Employer Matching Contributions Account, to which shall be credited
the amount in the Participant's employer matching contributions account under
the Signet Plan made after December 31, 1993, and Employer Matching
Contributions made pursuant to Section 3.2 and earnings thereon.

       (d) "Matured" Employer Matching Contributions Account, to which shall be
credited the amount in the Participant's "matured" employer matching
contributions account under the Signet Plan made before January 1, 1994 that
have been held in the Signet Plan for at

                                       25

<PAGE>

least two complete calendar years. This account shall also include "Profit
Sharing Contributions" made to the Signet Plan before January 1, 1986, and
earnings thereon.

       (e) Rollover Contributions Account, to which shall be credited the amount
in the Participant's rollover contributions account under the Signet Plan
immediately before the Effective Date of the Plan, and amounts transferred to
the Plan pursuant to Section 13.12 and earnings thereon.

       (f) Employer Profit-Sharing Contributions Account, to which shall be
credited the amount of Employer Profit-Sharing Contributions made pursuant to
Section 3.10 and earnings thereon.

       (g) Such additional accounts as may be established by the Committee in
order to facilitate the administration of the Plan or comply with relevant tax
law.

   The Committee may combine or eliminate any of the Accounts described above at
such time as it deems appropriate. Contributions made under a plan that is
merged into this Plan, or whose assets are otherwise transferred to this Plan,
may be added to the foregoing Accounts according to an applicable Appendix.
Earnings on each Account shall be allocated to that Account pursuant to the
provisions of Section 4.2 below and Section IX.

       4.2 Allocation and Crediting of Contributions and Earnings. As of the
last day of each Plan Year, and at such times during the Plan Year as deemed
necessary, the Trustee shall determine the Account Value of each Participant's
Accounts, which shall reflect the fair market value of investments in the
Account and any contributions or investment earnings not yet invested and any
liability of the Participant to the Plan.

                                       26

<PAGE>

      4.3 Annual Addition and Benefit Limitations.

      (a) Notwithstanding any other provision of the Plan to the contrary, the
total amount of the Annual Additions, as defined in Subsection (b), that may be
allocated to the accounts of a Participant for a Plan Year under all defined
contribution plans maintained by the Employer and Related Companies shall not
exceed the lesser of (i) $30,000 or (ii) 25% of the Participant's Section 415
Compensation. The $30,000 amount referred to above shall be adjusted from time
to time to correspond to the amount prescribed by law under Code Section
415(c)(1)(A) or by the Secretary of the Treasury pursuant to Code Section
415(d), determined as of the last day of the Plan Year to which the limitation
applies. The Plan Year shall be the limitation year used to determine whether
the requirements of this Section 4.3 have been satisfied.

      (b) For purposes of this Section 4.3, "Annual Additions" means the sum
(under all defined contribution plans maintained by the Company and Related
Companies) of (i) Before-Tax Contributions, Employer Matching Contributions,
performance-based Employer contributions pursuant to Section 3.2(c)
("Performance Contributions"), Employer Profit-Sharing contributions, and other
Employer and Related Company contributions made on a Participant's behalf, (ii)
forfeitures, and (iii) after-tax contributions. Annual Additions shall not
include excess Before-Tax Contributions that are distributed pursuant to Section
4.7(a) (or pre-tax contributions distributed under the counterpart provision of
any other plan taken into account under this Section 4.3).

      (c) Solely in the case of Plan Years commencing prior to January 1, 2000,
if a Participant is or has been a participant in one or more defined benefit
plans and in one or more

                                       27

<PAGE>

defined contribution plans maintained by the Employer or a Related Company, then
the sum of the "defined benefit plan fraction" (defined below) and the "defined
contribution plan fraction" (defined below) for any Plan Year as applied to the
plans shall not exceed 1.0. The benefits provided under the Company's defined
benefit plan(s) shall be reduced to the extent necessary to comply with the
limits of this Subsection (c) before any contributions made to the defined
contribution plan(s) are reduced. For purposes of this Section:

               (i)  The "defined benefit plan fraction" for any Participant for
     any Plan Year is a fraction, the numerator of which is the Participant's
     projected annual benefit under all defined benefit plans of the Employer
     and Related Companies (determined as of the close of the Plan Year) and the
     denominator of which is the lesser of:

                    (x) 1.25 multiplied by $90,000 (or such other amount as is
          permitted or required to be used under Code Section 415(e)), or

                    (y) 1.4 multiplied by 100% of the Participant's highest
          average Section 415 Compensation for the three consecutive years
          during which he was a participant in the defined benefit plans.

               (ii) The "defined contribution plan fraction" for any Participant
     for any Plan Year is a fraction, the numerator of which is the sum of the
     Annual Additions to the Participant's Accounts as of the close of the Plan
     Year under all defined contribution plans of the Employer and Related
     Companies, and the denominator of which is the sum of the lesser of the
     following amounts determined for the Plan Year and for each previous year
     of service with the Employer and Related Companies:

                                       28

<PAGE>

                    (x) 1.25 multiplied by the $30,000 amount described in
          Subsection (a) (as adjusted), or

                    (y) 1.4 multiplied by 25% of the Participant's Section 415
          Compensation for the year.

     As an alternative to the foregoing, in determining the limits of this
Subsection (c), the Committee may use any other method permissible under Code
Section 415.

          (d) If the Annual Additions for any Plan Year would cause the
allocation to a Participant's Account to exceed the limits established in
Subsection (a) or, in the case of Plan Years commencing prior to January 1,
2000, (c) above, for that Plan Year, then the excess over the applicable limit
(for purposes of this Subsection (a), the "Excess Amount") shall not be
allocated to the Participant's Account for the Plan Year and shall instead be
administered as follows:

             (i)    If the Participant participates in either the Capital One
     Financial Corporation Excess Savings Plan or the Capital One Financial
     Corporation Section 415 Excess Plan:

                    (x) Employer Profit-Sharing Contributions with respect to
          the Participant for the Plan Year shall be reduced to the extent of
          the Excess Amount. If the reduction in Employer Profit-Sharing
          Contributions is insufficient to reduce the Excess Amount to zero,
          then Performance Contributions and Employer Matching Contributions
          shall be reduced (in that order) to the extent of the remaining Excess
          Amount. Any reductions described in the preceding two

                                       29

<PAGE>

         sentences shall be held unallocated in a suspense account for the Plan
         Year and, after being adjusted to reflect investment experience,
         treated as follows:

                        (I)  If, for the following Plan Year, the Participant is
              entitled to any Employer Profit-Sharing Contributions, Performance
              Contributions, or Employer Matching Contributions, the amount in
              the suspense account (adjusted to reflect investment experience)
              shall be allocated to the Participant's Account for that Plan Year
              (and succeeding Plan Years as necessary) in lieu of and to the
              extent of such additional Employer contributions that otherwise
              would be made to the Plan with respect to the Participant. The
              amount in the suspense account shall be applied, first, toward
              Employer Profit-Sharing Contributions and then, in order,
              Performance Contributions and Employer Matching Contributions, if
              any.

                        (II) If, for the following Plan Year, the Participant is
              not entitled to any Employer Profit-Sharing Contributions,
              Performance Contributions, or Employer Matching Contributions, the
              amount in the suspense account (adjusted to reflect investment
              experience) shall be allocated to the Accounts of the Participants
              who are eligible for such contributions for that Plan Year (and
              succeeding Plan Years as necessary) in lieu of and to the extent
              of additional Employer contributions that otherwise would be made
              to the Plan with respect to the Participants. The amount in the
              suspense account shall be applied, first, toward Employer

                                       30

<PAGE>

                    Profit-Sharing Contributions and then, in order, Performance
                    Contributions and Employer Matching Contributions, if any.

                         (y) If any reduction made in accordance with Paragraph
               (x), above, is insufficient to reduce the Excess Amount to zero,
               the Participant's After-Tax Contributions for the Plan Year shall
               be reduced to the extent of the remaining Excess Amount and,
               after being adjusted to reflect investment experience, shall be
               distributed to the Participant as soon as administratively
               practicable.

                         (z) If any reduction made in accordance with Paragraph
               (y), above, is insufficient to reduce the Excess Amount to zero,
               the Participant's Before-Tax Contributions for the Plan Year
               shall be reduced to the extent of the remaining Excess Amount
               and, after being adjusted to reflect investment experience, shall
               be distributed to the Participant as soon as administratively
               practicable.

                    (ii) If the Participant does not participate in either the
          Capital One Financial Corporation Excess Savings Plan or the Capital
          One Financial Corporation Section 415 Excess Plan:

                         (x) The Participant's After-Tax Contributions for the
               Plan Year shall be reduced to the extent of the Excess Amount
               and, after being adjusted to reflect investment experience, shall
               be distributed to the Participant as soon as administratively
               practicable.

                                       31

<PAGE>

                         (y) If any reduction made in accordance with Paragraph
               (x), above, is insufficient to reduce the Excess Amount to zero,
               the Participant's Before-Tax Contributions for the Plan Year
               shall be reduced to the extent of the remaining Excess Amount
               and, after being adjusted to reflect investment experience, shall
               be distributed to the Participant as soon as administratively
               practicable.

                         (z) If any reduction made in accordance with Paragraph
               (y), above, is insufficient to reduce the Excess Amount to zero,
               Employer Profit-Sharing Contributions with respect to the
               Participant for the Plan Year shall be reduced to the extent of
               the remaining Excess Amount. If the reduction in Employer
               Profit-Sharing Contributions is insufficient to reduce the
               remaining Excess Amount to zero, then Performance Contributions
               and Employer Matching Contributions shall be reduced (in that
               order) to the extent of the remaining Excess Amount. Any
               reductions described in the preceding two sentences shall be held
               unallocated in a suspense account for the Plan Year and, after
               being adjusted to reflect investment experience, treated as
               follows:

                             (I) If, for the following Plan Year, the
                   Participant is entitled to any Employer Profit-Sharing
                   Contributions, Performance Contributions, or Employer
                   Matching Contributions, the amount in the suspense account
                   (adjusted to reflect investment experience) shall be
                   allocated to the Participant's Account for that Plan Year
                   (and succeeding Plan Years as necessary) in lieu of and to
                   the extent of such additional Employer contributions that
                   otherwise would be made to the Plan with

                                       32

<PAGE>

                    respect to the Participant. The amount in the suspense
                    account shall be applied, first, toward Employer
                    Profit-Sharing Contributions and then, in order, Performance
                    Contributions and Employer Matching Contributions, if any.

                         (II) If, for the following Plan Year, the Participant
                    is not entitled to any Employer Profit-Sharing
                    Contributions, Performance Contributions, or Employer
                    Matching Contributions, the amount in the suspense account
                    (adjusted to reflect investment experience) shall be
                    allocated to the Accounts of the Participants who are
                    eligible for such contributions for that Plan Year (and
                    succeeding Plan Years as necessary) in lieu of and to the
                    extent of additional Employer contributions that otherwise
                    would be made to the Plan with respect to the Participants.
                    The amount in the suspense account shall be applied, first,
                    toward Employer Profit-Sharing Contributions and then, in
                    order, Performance Contributions and Employer Matching
                    Contributions, if any.

           4.4      Anti-Discrimination Test for Before-Tax Contributions.

           (a)      Notwithstanding any other provisions of the Plan to the
contrary, the Plan shall meet the anti-discrimination test of Code Section
401(k), described in Subsection (b), for each Plan Year. In order to ensure that
the anti-discrimination test is met, the Committee shall adjust the Before-Tax
Contributions for the Plan Year to the extent necessary to meet the requirements
of Code Section 401(k) and shall instruct the Employer as to how such adjustment
shall be made. An adjustment to Before-Tax Contributions shall be accomplished
by:

                                       33

<PAGE>

               (i)   requiring each Highly Compensated Employee to reduce (or
     eliminate) the Before-Tax Contributions to be made on his behalf for the
     Plan Year;

               (ii)  returning Before-Tax Contributions made on behalf of Highly
     Compensated Employees to the Employees as of the end of the Plan Year, in
     the amount described in Section 4.7;

               (iii) making an additional, fully vested Employer contribution to
     the Plan, which shall be administered as an additional Before-Tax
     Contribution, for Participants who are not Highly Compensated Employees and
     who elected to have Before-Tax Contributions made for the Plan Year, in an
     amount needed to make the Plan meet the anti-discrimination test, and shall
     be allocated to the Participant's Before-Tax Contributions Account in the
     proportion that the Compensation of each Participant who is not a Highly
     Compensated Employee bears to the Compensation of all such Participants; or

               (iv)  taking such other actions as the Committee deems
     appropriate.

     If the Employer makes an additional, fully vested Employer contribution to
the Plan pursuant to Subparagraph (iii) above, the contribution shall be paid to
the Trustee no later than the end of the 12-month period immediately following
the Plan Year to which the contribution relates.

         (b)   The anti-discrimination requirements of Code Section 401(k)
provide that, in each Plan Year, one of the following tests must be met:

                                       34

<PAGE>

               (i)  the Actual Deferral Percentage (defined below) of the Highly
     Compensated Employees for the current Plan Year is not more than the Actual
     Deferral Percentage of all other eligible Employees for the Prior Plan Year
     multiplied by 1.25; or

               (ii) the excess of the Actual Deferral Percentage of the Highly
     Compensated Employees for the current Plan Year over that of the other
     eligible Employees for the Prior Plan Year is not more than two percentage
     points, and the Actual Deferral Percentage of the Highly Compensated
     Employees for the current Plan Year is not more than the Actual Deferral
     Percentage of all other eligible Employees for the Prior Plan Year
     multiplied by 2.

     If the Actual Deferral Percentage of all eligible Highly Compensated
Employees for the current Plan Year exceeds 1.25 of the Actual Deferral
Percentage of all other eligible Employees for the prior Plan Year and the
Contribution Percentage of all eligible Highly Compensated Employees for the
current Plan Year exceeds 1.25 of the Contribution Percentage of other eligible
Employees for the prior Plan Year, then the test described in Subsection (ii)
shall be used to satisfy the requirement of this Section 4.4(b) only to the
extent that the test described in Subsection 4.5(b)(ii) is not used to satisfy
the requirement of Section 4.5(b).

         (c)   The Actual Deferral Percentage is the average of the ratios,
calculated separately for each Employee who is eligible to participate in the
Plan, of the amount of Before-Tax Contributions that are credited under the Plan
on behalf of the eligible Employee for the applicable Plan Year, to the
Employee's Compensation for the applicable Plan Year. Employer Matching
Contributions allocated to Participants' Employer Matching Contributions
Accounts may be included in computing the Actual Deferral Percentage for a Plan
Year, if the Committee

                                       35

<PAGE>

determines that inclusion of such contributions is appropriate. As described in
Subsection (b), the Actual Deferral Percentage of the Highly Compensated
Employees for the current Plan Year shall be compared to the Actual Deferral
Percentage of all other eligible Employees for the prior Plan Year. The
limitations of Section 4.4(b)(ii) shall be used only to the extent permitted by
applicable Treasury regulations.

       (d) Notwithstanding the foregoing, if the test described in Subsection
(b) is not satisfied for a Plan Year, the Committee may use any other test
permitted under Code Section 401(k) to determine whether the Plan meets the
anti-discrimination requirements of Code Section 401(k).

       (e) If the Employer maintains more than one plan qualified under Code
Section 401(a), and if the plans are aggregated for purposes of satisfying the
coverage or anti-discrimination requirements of Code Sections 401(a) or
410(b)(1)(A) or (B), all qualified cash or deferred arrangements contained in
such plans shall be aggregated for purposes of performing the
anti-discrimination test for Before-Tax Contributions. If a Highly Compensated
Employee participates in more than one plan of the Employer, all Before-Tax
Contributions made by the Highly Compensated Employee under all such plans shall
be aggregated for purposes of performing the test described in Subsection (b),
above. The Committee shall administer the anti-discrimination tests of Sections
4.4 and 4.5 in accordance with Internal Revenue Service rulings and Treasury
regulations in effect from time to time.

                                       36

<PAGE>

         4.5 Anti-Discrimination Test for Employer Matching Contributions,
Performance Contributions and After-Tax Contributions.

         (a) Notwithstanding the foregoing provisions of the Plan, the Plan
shall meet the anti-discrimination test of Code Section 401(m) (described in
Subsection (b)) for each Plan Year. In order to meet the anti-discrimination
test, the Committee shall reduce the Employer Matching Contributions,
Performance Contributions, and After-Tax Contributions for the Plan Year to the
extent necessary to meet the requirements of Code Section 401(m), in the manner
described in Section 4.7. The Committee may also take such other actions to
reduce Employer Matching Contributions and After-Tax Contributions as the
Committee deems appropriate, including, without limitation, actions similar to
those described in Section 4.4(a).

         (b) The anti-discrimination requirements of Code Section 401(m) require
that, for each Plan Year, one of the following tests must be met:

             (i)  the Contribution Percentage (defined below) of the Highly
      Compensated Employees for the current Plan Year is not more than the
      Contribution Percentage of all other eligible Employees for the prior Plan
      Year multiplied by 1.25; or

             (ii) the excess of the Contribution Percentage of the Highly
      Compensated Employees for the current Plan Year over that of the other
      eligible Employees for the prior Plan Year is not more than 2 percentage
      points, and the Contribution Percentage of the Highly Compensated
      Employees for the current Plan Year is not more than the Contribution
      Percentage of all other eligible Employees for the prior Plan Year
      multiplied by 2.

<PAGE>

     If the Actual Deferral Percentage of all eligible Highly Compensated
Employees for the current Plan Year exceeds 1.25 of the Actual Deferral
Percentage of all other eligible Employees for the prior Plan Year and the
Contribution Percentage of all eligible Highly Compensated Employees for the
current Plan Year exceeds 1.25 of the Contribution Percentage of other eligible
Employees for the prior Plan Year, then the test described in Subsection (ii)
shall be used to satisfy the requirement of this Section 4.5(b) only to the
extent that the test described in Subsection 4.4(b)(ii) is not used to satisfy
the requirement of Section 4.4(b).

         (c) The Contribution Percentage is the average of the ratios,
calculated separately for each eligible Employee, of the amount of Employer
Matching Contributions, Performance Contributions and After-Tax Contributions
that are credited under the Plan on behalf of the eligible Employee for the
applicable Plan Year, to the Employee's Compensation for the applicable Plan
Year. Before-Tax Contributions may be included in computing the Contribution
Percentage for a Plan Year, if the Committee determines that inclusion of such
contributions is appropriate. However, Employer Matching Contributions and
Performance Contributions used to satisfy the anti-discrimination test described
in Section 4.4(b) shall not be taken into account for purposes of the
anti-discrimination test described in Subsection (b) above, to the extent
required by law. As described in Subsection (b), the Contribution Percentage of
the Highly Compensated Employees for the current Plan Year shall be compared to
the Contribution Percentage of all other eligible Employees for the prior Plan
Year.

         (d) Notwithstanding the foregoing, if the test described in Subsection
(b) is not satisfied for a Plan Year, the Committee may use any other test
permitted under Code Section 401(m) to determine whether the Plan meets the
anti-discrimination requirements of

                                       38

<PAGE>

Code Section 401(m) . The limitations of Section 4.5(b)(ii) shall be used only
to the extent permitted by applicable Treasury regulations.

         (e) If the Employer maintains more than one plan qualified under Code
Section 401(a), and if the plans are aggregated for purposes of satisfying the
discrimination or coverage requirements of Code Sections 401(a)(4) or
410(b)(1)(A) or (B), all Employer Matching Contributions and After-Tax
Contributions made to such plans shall be aggregated for purposes of performing
the anti-discrimination test described in Subsection (b) above. If a Highly
Compensated Employee is eligible to participate in more than one plan maintained
by the Employer, Employer Matching Contributions, Performance Contributions and
After-Tax Contributions made on behalf of the Highly Compensated Employee under
all such plans shall be aggregated for purposes of performing the
anti-discrimination test described in Subsection (b) above.

         (f) Notwithstanding any other provision of the Plan, the sum of the
Actual Deferral Percentage and the Contribution Percentage (as defined above) on
behalf of Highly Compensated Employees may not exceed the "aggregate limit"
permitted under the multiple use test, as set forth in Treas. Reg. Section
1.401(m)-2(b). If the aggregate limit is exceeded, then the Employer Matching
Contributions, Performance Contributions and After-Tax Contributions of those
Highly Compensated Employees who participate in the Plan shall be adjusted
(beginning with such Highly Compensated Employee with the highest dollar value
of such contributions) by first distributing After-Tax Contributions, and then
reducing Performance Contributions and Employer Matching Contributions, in that
order, so that the limit is not exceeded. The amount by which each Highly
Compensated Employee's Contribution Percentage is reduced shall be treated as an
excess contribution under Section 4.7. The Actual

                                       39

<PAGE>

Deferral Percentage and the Contribution Percentage of the Highly Compensated
Employees are determined after any correction required to be made under this
Subsection (f). Multiple use does not occur if both the Actual Deferral
Percentage and the Contribution Percentage of the Highly Compensated Employees
for the current Plan Year does not exceed 1.25 multiplied by the Actual Deferral
Percentage and the Contribution Percentage of the non-Highly Compensated
Employees for the prior Plan Year.

         4.6 Highly Compensated Employee.

         (a) Except as otherwise provided below, in computing the
anti-discrimination tests described in Sections 4.4 and 4.5, a Highly
Compensated Employee for a Plan Year is an Employee who:

             (i)  was a 5% owner (within the meaning of Code Section 416(i)(1))
     of the Employer or a Related Company during the Plan Year or the preceding
     Plan Year, or

             (ii) received Section 415 Compensation from the Employer and
     Related Companies for the Preceding Plan year in excess of $80,000 (as
     indexed in accordance with Code Section 414(q)(1)).

     The determination of Highly Compensated Employees for a Plan Year shall be
made in accordance with Code Section 414(q) and applicable Treasury regulations.

         4.7 Distribution of Excess Contributions.

         (a) If a Participant's Before-Tax Contributions exceed the Code Section
402(g) limit described in Section 3.1(a)(ii) for a calendar year, the amount of
Before-Tax

                                       40

<PAGE>

Contributions in excess of the limit and income attributable to those
Contributions shall be distributed to the Participant by the first April 15/th/
following the close of the calendar year in which the Before-Tax Contributions
were made.

          (b)  If Before-Tax Contributions of Highly Compensated Employees are
required to be reduced as a result of the anti-discrimination test described in
Section 4.4, the excess Before-Tax Contributions and income attributable to
those contributions shall be either (i) recharacterized as After-Tax
Contributions or (ii) distributed to the Highly Compensated Employees within 2
1/2 months after the close of the Plan Year to which the Before-Tax
Contributions relate. In determining the amount of the excess Before-Tax
Contributions under this Section, the Committee shall use the leveling method
described in Section 4.7(g) hereof. The amount of such excess contributions so
determined shall be distributed to Highly Compensated Employees, beginning with
the Highly Compensated Employee with the highest dollar amount of Before-Tax
Contributions for the Plan Year in an amount required to cause that Highly
Compensated Employee's Before-Tax Contributions to equal the dollar amount of
the Before-Tax Contributions of the Highly Compensated Employee with the next
highest dollar amount of Before-Tax Contributions (or in such lesser amount
that, when added to the total dollar amount already distributed under this
Section 4.7(b), would equal the total amount of such excess contributions). The
process described in the preceding sentence shall continue until the reduction
equals the total of such excess contributions made to the Plan as determined in
accordance with Section 4.7(g) hereof.

               (i)  To the extent that excess Before-Tax Contributions are
     distributed to Highly Compensated Employees in order to meet the
     requirements of Code Section

                                       41

<PAGE>

     401(k), Employer Matching Contributions attributable to such Before-Tax
     Contributions must also be distributed.

               (ii)  To the extent that excess Before-Tax Contributions are
     recharacterized, they shall not be eligible for the Employer Matching
     Contribution pursuant to Section 3.2. If an Employer Matching Contribution
     was made on account of an excess Before-Tax Contribution before such excess
     Before-Tax Contribution was recharacterized, the Employer Matching
     Contribution attributable to the excess Before-Tax Contribution shall be
     distributed to the Highly Compensated Employee to the extent necessary to
     meet the requirements of Code Section 401(m).

               (iii) In accordance with Treas. Reg. Section
     1.401(k)-(1)(f)(3)(ii), recharacterized excess contributions remain
     nonforfeitable, regardless of the Employee's age and service, and not
     distributable earlier than one of the following events:

                     (x) the Employee's retirement, death, Total Disability, or
          separation from Service; or

                     (y) the Employee's financial hardship or attainment of age
          59 1/2.

          (c)  If Employer Matching Contributions, Performance Contributions
and After-Tax Contributions of Highly Compensated Employees are required to be
adjusted as a result of the anti-discrimination test described in Section 4.5,
the excess Employer Matching Contributions and After-Tax Contributions and
income attributable to those contributions shall be distributed to the Highly
Compensated Employees within 2 1/2 months after the close of the

                                       42

<PAGE>

Plan Year to which the contributions relate. In determining the amount of the
excess Employer Matching Contributions, Performance Contributions, and After-Tax
Contributions, the Committee shall use the leveling method described in Section
4.7(g) hereof. The amount of such excess contributions so determined shall be
distributed to Highly Compensated Employees, beginning with the Highly
Compensated Employee with the highest dollar amount of Employer Matching
Contributions, Performance Contributions, and After-Tax Contributions for the
Plan Year in an amount required to cause that Highly Compensated Employee's
Employer Matching Contributions, Performance Contributions, and After-Tax
Contributions to equal the dollar amount of the Employer Matching Contributions,
Performance Contributions, and After-Tax Contributions of the Highly Compensated
Employee with the next highest dollar amount of Employer Matching Contributions,
Performance Contributions and After-Tax Contributions (or in such lesser amount
that, when added to the total amount already distributed under this Section
4.7(c), would equal the total amount of such excess contributions). This process
shall continue until the reduction equals the total excess aggregate
contributions made to the Plan as determined in accordance with Section 4.7(g)
hereof. Such distributions shall be made notwithstanding any other provision of
the Plan.

          (d)  The amount of income attributable to excess contributions is that
portion of the income on the Participant's Account to which the contributions
were allocated for the Plan Year that bears the same ratio as the amount of
excess contributions bears to the total balance of that Account.

          (e)  The distributions required under this Section may be made without
the consent of the Participant or his spouse and may be made without regard to
any Qualified Domestic Relations Order, as described in Section 6.9.

                                       43

<PAGE>

          (f)  In order to comply with the applicable Code requirements,
Employer Matching Contributions attributable to Before-Tax Contributions in
excess of the Code Section 402(g) dollar limitation under Section 3.1 and
Employer Matching Contributions attributable to excess Before-Tax Contributions
under Section 3.2 may be forfeited and applied to reduce future Employer
Matching Contributions. Such Employer Matching Contributions may be forfeited
regardless of whether they are otherwise vested under the Plan.

          (g)  The "leveling method" of determining the amount of excess
contributions, as described above, means the amount of excess contributions of
Highly Compensated Employees, determined as follows:

               Step 1. Hypothetically reduce the ratio described in Section
          4.4(c) or 4.5(c), as applicable (the "Ratio"), of the Highly
          Compensated Employee with the highest such Ratio until either (i) the
          anti-discrimination test is satisfied or (ii) such Highly Compensated
          Employee's Ratio is equal to the next highest such Ratio of a Highly
          Compensated Employee, whichever occurs first.

               Step 2. If necessary, reduce the Ratios of both Highly
          Compensated Employees with the highest such Ratios (after application
          of Step 1) until either (i) the anti-discrimination test is satisfied
          or (ii) such Highly Compensated Employees' Ratios are equal to the
          next highest such Ratio of a Highly Compensated Employee, whichever
          occurs first.

               Step 3. Continue the procedure until the anti-discrimination test
          is satisfied.

                                       44

<PAGE>

          (h)  The amount of excess contributions determined under Section 4.4
shall be reduced by Before-Tax Contributions exceeding the Code Section 402(g)
limit (as adjusted pursuant to Code Section 415(d)) as provided in Section 3.1,
which were previously distributed or recharacterized for the taxable year ending
in the same Plan Year.

          4.8  Correction of Error. If an error is made in the adjustment of a
Participant's Accounts, the error shall be corrected by the Committee, and any
gain or loss resulting from the correction shall be credited to the income or
charged as an expense of the Trust Fund for the Plan Year in which the
correction is made. In no event shall allocations previously made to the
Accounts of other Participants be adjusted on account of the error.

          4.9  Trust Fund as a Single Fund. The creation of separate Accounts
for accounting and bookkeeping purposes shall not restrict the Trustee in
operating the Trust Fund as a single fund.

                                       45

<PAGE>

                                   SECTION V

                      VESTING AND DISTRIBUTION OF ACCOUNTS

          5.1  Vested Interest.

          (a)  Each Participant shall become vested in his Employer Matching
Contributions Account and Employer Profit-Sharing Contributions Account
according to the following schedule:

          Years of Vesting Service           Vested Percentage
          ------------------------           -----------------

          Two years or less                           0%

          More than two years                       100%

     Notwithstanding the foregoing, a Participant's Employer Matching
Contributions Account and Employer Profit-Sharing Contributions Account also
shall become fully vested on the first to occur of the following events, if he
is then an Employee:

               (i)   his 65/th/ birthday;

               (ii)  his death; or

               (iii) his Total Disability.

         A Participant is always fully vested in his Before-Tax Contributions
Account, After-Tax Contributions Account, and Rollover Account.

          (b)  If an Employee separates from Service before he has a vested
interest in his Employer Matching Contributions Account and then is reemployed,
the amount of Service he

                                       46

<PAGE>

performed before his separation from Service shall be disregarded in applying
the vesting schedule to his post-reemployment Employer Matching Contributions
Account if the Employee has incurred a series of consecutive One-Year Periods of
Severance from Service that equals or exceeds the greater of (i) five or (ii)
the amount of his Service before his separation from Service. In all other
cases, if an Employee separates from Service and is reemployed, all of his
Service shall be counted for purposes of applying the vesting schedule to his
post-reemployment Employer Matching Contributions Account.

          5.2  Normal Retirement. A Participant may retire as of any business
day coinciding with or following his Normal Retirement Date. The Participant's
Account shall be distributed in accordance with Sections 5.7, 5.8 and 5.10.

          5.3  Early Retirement. A Participant may retire as of any business day
coinciding with or following his Early Retirement Date. The Participant's
Account shall be distributed in accordance with Sections 5.7, 5.8 and 5.10.

          5.4  Disability Retirement. If a Participant incurs a Total
Disability, his retirement shall be effective as of the date on which the
Committee determines that he has incurred a Total Disability. The Participant's
Account shall be distributed in accordance with Sections 5.7, 5.8 and 5.10.

          5.5  Death Benefits. If a Participant dies before his Account has been
distributed, his Account shall be paid to his Beneficiary in accordance with
Sections 5.7, 5.8 and 5.10. All of the Participant's outstanding loans described
in Section 5.13 shall become due and payable upon the Participant's death.

                                       47

<PAGE>

          5.6  Separation from Service.

          (a)  If a Participant separates from Service for any reason other than
(i) retirement on or after his Early Retirement Date, (ii) retirement on or
after his Normal Retirement Date, (iii) Total Disability or (iv) death, the
Committee shall determine his vested interest in his Employer Matching
Contributions Account and Employer Profit-Sharing Contributions Account as of
the date of his severance from Service. The vested portion of the Employer
Matching Contributions Account and Employer Profit-Sharing Contributions Account
and all other Accounts of the Participant shall be distributed in accordance
with Sections 5.7, 5.8 and 5.10. The non-vested portion of the Employer Matching
Contributions Account and Employer Profit-Sharing Contributions Account shall be
forfeited as of the date such Accounts are distributed. If the Participant's
vested interest in such Accounts is zero, the vested percentage (0%) shall be
deemed to be distributed as of the date on which the Participant terminates
employment, and the non-vested portion shall be forfeited as of such date.

          (b)  If a Participant separates from Service before he has a 100%
vested interest in his Employer Matching Contributions Account or his Employer
Profit-Sharing Contributions Account and is subsequently reemployed by the
Employer, the amount that the Participant previously forfeited shall be restored
to his Accounts if the Participant repays the amount distributed, as follows:

               (i)  The Participant must repay the amount distributed no later
     than the earlier of (x) the end of the five year period commencing on the
     date of the Participant's reemployment following his reemployment or (y)
     the end of the first period of five

                                       48

<PAGE>

     consecutive One-Year Periods of Severance from Service commencing after the
     distribution.

               (ii) The Employer shall restore the forfeiture by making an
     allocation of forfeitures to the Participant's Account and, if necessary,
     making an additional contribution for the Plan Year in which the
     restoration occurs.

     If the Participant does not repay the amount distributed in accordance with
this Subsection (b) , the amount previously forfeited shall not be restored to
the Participant's Account.

          (c)  Except as provided in Subsection (b)(ii), all amounts forfeited
under the Plan shall be used to reduce Employer Matching Contributions or
Employer Profit-Sharing Contributions for the Plan Year in which the Participant
terminates employment (and subsequent Plan Years, as necessary), or to pay costs
of Plan administration as provided in Section 13.1.

          5.7  Form and Time of Payment.

          (a)  Subject to the cash-out provision in Subsection (b), if a
Participant terminates employment with the Employer and Related Companies for
any reason including death, the Account Value of the Participant's Accounts
shall be distributed as soon as practicable in one of the following forms
selected by the Participant (or his Beneficiary, in the case of the
Participant's death):

               (i)  The Account may be paid to the Participant or Beneficiary in
     a lump sum payment.

                                        49

<PAGE>

               (ii) The Participant's Account may be paid to the Participant or
     Beneficiary in substantially equal installments, at least annually, over a
     term certain not extending beyond the shorter of 15 years or the life
     expectancies of the Participant and his Beneficiary. If the Participant
     dies before the completion of the installment payments, any balance of the
     Account shall be paid to his Beneficiary. If a Beneficiary who is receiving
     payments dies, any remaining balance of the Account shall be paid to the
     Beneficiary's estate in a lump sum payment.

          (b)  If a terminated Participant's vested Account Value does not
exceed $5,000 (nor, with respect to distributions made prior to March 22, 1999,
ever exceeded such amount), distribution shall be made as soon as is practicable
following the Participant's termination of employment. If a terminated
Participant's vested Account Value exceeds $5,000 (or, with respect to
distributions made prior to March 22, 1999, ever exceeded such amount),
distribution shall be made only if the Participant consents to the distribution.
The Participant's consent must be given in writing on a form designated by the
Committee. To the extent required by law, such form, and a notice which explains
the optional forms of benefit available to the Participant and his right to
defer the receipt of his benefits under Subsection (d) below, shall be provided
to the Participant no less than 30 days and no more than 90 days before the date
on which distribution is to commence. A distribution may commence less than 30
days after the date on which the notice described above is given to the
Participant, provided that:

               (i)  the Committee informs the Participant that the Participant
     has a right to a period of at least 30 days after receiving the notice to
     consider the decision as to whether to elect a distribution (and, if
     applicable, a particular distribution option), and

                                       50

<PAGE>

              (ii) the Participant, after receiving the notice, affirmatively
     elects a distribution.

     Payments shall be made or shall begin to be made as soon as is
administratively feasible after the Participant or Beneficiary requests the
payment as described above. If additional allocations are to be made to the
Participant's Account after the distribution date, the additional allocations
shall be distributed as soon as is administratively feasible after they are
made.

          (c) A Participant whose vested Account Value exceeds $5,000 on his
Normal Retirement Date may elect to postpone commencement of his benefit. A
Participant who has elected to postpone commencement of his benefit may later
elect to begin receiving his benefit as of any subsequent Valuation Date.

          (d) Notwithstanding the foregoing, distributions from the Plan must
begin not later than April 1 following the calendar year in which a Participant
(i) reaches age 70 1/2 or (ii) except in the case of a 5-percent owner (within
the meaning of Code Section 416), retires (if later). To the extent required
under regulations, rulings, or other guidance of general applicability issued by
the United States Treasury Department or the Internal Revenue Service, a
Participant who (i) attained age 70-1/2 in a calendar year that begins after
December 31, 2002, and was entitled to a distribution from the Plan in
accordance with the terms of Code Section 401(a)(9) as in effect before its
amendment by Section 1404 of the Small Business Job Protection Act of 1996 and
(ii) has not yet retired before April 1 of the calendar year following the
calendar year in which he attains age 70 1/2, may elect that the distribution
commence not later than April 1 of the calendar year following the calendar year
in which he attains age 70 1/2. If a Participant is still in the employ of the
Employer when distributions must begin in accordance

                                       51

<PAGE>

with the foregoing provisions of this Subsection (d), the Participant's Account
shall be distributed in a lump sum payment or in at least annual installments
over a period permitted by Code Section 401(a)(9), as elected by the
Participant. If the Participant fails to elect the form in which his Account is
to be distributed, the Committee shall distribute the Participant's Account in a
lump sum and shall distribute any additional allocations as soon as is
administratively feasible after the close of the Plan Year in which the
additional allocations are made.

          (e) A Participant may elect to have the portion of his Account that is
invested in the Company Stock Fund paid in whole shares of Company Stock with
the value of fractional shares paid in cash, or entirely in cash, and it shall
be valued as of the Valuation Date as of which the distribution is made. If part
or all of a Participant's Account is invested in any Investment Fund other than
the Company Stock Fund, that portion of the Account shall be paid in cash and
shall be valued as of the Valuation Date as of which the distribution is made.

          (f) The following rules apply to a deceased Participant whose vested
Account Value exceeds $5,000 at the time of death:

              (i)  If a Participant dies after payments have begun, then his
     remaining Account balance, if any, must be distributed to his Beneficiary
     at least as rapidly as under the method of distribution elected by the
     Participant.

              (ii) If a Participant dies before his Account balance has begun to
     be distributed, then, except as provided below, his Account balance, if
     any, must be distributed within five years after the Participant's death.
     If the Participant's Account balance is distributed in installment payments
     to (or for the benefit of) an individual Beneficiary, then the
     Participant's Account balance may be distributed over a period not

                                       52

<PAGE>

     extending beyond the Beneficiary's life expectancy, and the payments must
     begin not later than one year after the Participant's death (or such other
     date as may be prescribed by Treasury regulations).

          (g) With respect to distributions under the Plan made for calendar
years beginning on or after January 1, 2001, the Plan will apply the minimum
distribution requirements of Code Section 401(a)(9) in accordance with
regulations under Code Section 401(a)(9) that were proposed on January 17, 2001,
notwithstanding any provisions of the Plan to the contrary. This Section 5.7(g)
shall continue in effect until the end of the last calendar year beginning
before the effective date of final regulations under Code Section 401(a)(9) or
such other date as may be specified in guidance published by the Internal
Revenue Service.

          5.8 Limitation on Distributions.

          (a) Notwithstanding the foregoing provisions, a Participant's
Before-Tax Contributions Account may not be distributed unless:

              (i)  the Participant dies, incurs a Total Disability, separates
     from the Service of the Employer and Related Companies, attains age 59 1/2,
     or qualifies for a withdrawal under Section 5.9(b);

              (ii) the Participant transfers employment to an employer that has
     purchased substantially all of the assets used by the Participant's former
     employer in its trade or business, and the distribution is made within the
     time period required by applicable Treasury regulations;

                                       53

<PAGE>

              (iii) the Participant is and continues to be employed by a
     corporation that was formerly a subsidiary of the Employer or a Related
     Company and the stock of which has been sold, and the distribution is made
     within the time period required by applicable Treasury regulations; or

              (iv)  the Plan is terminated and no successor plan is established.

     This Section 5.8(a) shall apply as required by Code Section 401(k),
notwithstanding anything in the Plan to the contrary, and shall be administered
consistent with the requirements of Code Section 401(k).

          (b) If a Participant or Beneficiary elects a distribution from the
Plan and for any reason part of the amount elected cannot be distributed (for
example, because a portion of the Account is invested in a fund from which a
distribution cannot be made for reasons over which the Committee and Trustee
have no control), a partial distribution attributable to the available portion
of the elected amount may be made.

          5.9 In-Service Withdrawals.

          (a) A Participant may request that the Committee authorize an
in-service withdrawal from his Accounts in cash as of any Valuation Date in
accordance with any of the following options, which he shall select on an
appropriate election form filed with the Committee:

              (i)   Option I (After-Tax Withdrawals):

                    .  After-Tax Contributions Account.

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<PAGE>

           (ii)  Option II ("Matured" Employer Match Withdrawals):

                 .  After-Tax Contributions Account;

                 .  "Matured" Employer Matching Contributions Account.

           (iii) Option III (Hardship Withdrawals):

                 .  After-Tax Contributions Account;

                 .  "Matured" Employer Matching Contributions Account;

                 .  Employer Matching Contributions Account (vested portion
                    only);

                 .  Rollover Contributions Account;

                 .  Before-Tax Contributions Account.

           (iv)  Option IV (Age 59 1/2Withdrawals):

                 .  After-Tax Contributions Account;

                 .  "Matured" Employer Matching Contributions Account;

                 .  Rollover Contributions Account;

                 .  Before-Tax Contributions Account.

     A Participant may not withdraw amounts attributable to Employer Matching
Contributions made with respect to Plan Years beginning on and after January 1,
1994, for purposes other than hardship. Unless otherwise permitted by law, the
amount of earnings on a Participant's After-Tax Contributions is available for
withdrawals under this Section. A Participant may not withdraw from his
Before-Tax Contributions Account on account of

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<PAGE>

financial hardship any earnings credited to that Account on or after January 1,
1989. If Employer Matching Contributions for years beginning on or after January
1, 1989 are included in computing the Actual Deferral Percentage under Section
4.4, a Participant may not make a hardship withdrawal from these Employer
Matching Contributions or earnings thereon.

          (b) A Participant shall be considered to have incurred financial
hardship if he has immediate and heavy financial needs that cannot be fulfilled
through other reasonably available financial resources of the Participant. In
addition, immediate and heavy financial needs shall include:

              (i)   expenses for medical care described in Code Section 213(d)
     previously incurred by the Participant, the Participant's spouse, or any
     dependents of the Participant (as defined in Code Section 152) or necessary
     for these persons to obtain medical care described in Code Section 213 (d);

              (ii)  costs directly related to the purchase of a principal
     residence for the Participant (excluding mortgage payments);

              (iii) payment of tuition and related educational fees and room and
     board expenses for the next 12 months of post-secondary education for the
     Participant or his spouse, children or dependents (as defined in Code
     Section 152);

              (iv)  payments necessary to prevent the eviction of the
     Participant from his principal residence or foreclosure on the mortgage of
     the Participant's principal residence; or

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<PAGE>

              (v) any additional expenses or payments approved by the Internal
     Revenue Service.

     The determination of hardship shall be made by the Committee or its
Administrative Delegate in accordance with such standards as may be promulgated
from time to time by the Internal Revenue Service. The Committee may rely on the
Participant's representation that the financial need cannot be relieved:

                  (1) through reimbursement or compensation by insurance or
     otherwise,

                  (2) by reasonable liquidation of the Participant's assets, to
     the extent such liquidation would not itself cause an immediate and heavy
     financial need,

                  (3) by cessation of Before-Tax Contributions and After-Tax
     Contributions under the Plan, or

                  (4) by other distributions or non-taxable loans from plans
     maintained by the Employer or by any other employer, or by borrowing from
     commercial sources on reasonable commercial terms.

          (c) A Participant who wishes to make a withdrawal shall apply to the
Committee or its Administrative Delegate for a withdrawal in the form and manner
designated by the Committee or its Administrative Delegate. The Participant must
furnish such information in support of his application as may be requested by
the Committee or its Administrative Delegate. The Committee or its
Administrative Delegate may not authorize a hardship withdrawal in excess of the
amount deemed necessary to alleviate the hardship, plus amounts

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<PAGE>

necessary to pay federal, state or local income taxes or penalties incurred as a
result of the distribution, or in excess of the eligible portion of the
Participant's Account as of the date as of which the Committee or its
Administrative Delegate approves the withdrawal. The amount withdrawn from a
Participant's Account shall not exceed the amount by which the balance of the
Participant's Account exceeds the unpaid balance of any outstanding loans
described in Section 5.14. The Participant's Account may be charged any expenses
necessary to implement the withdrawal.

          (d) All withdrawals made pursuant to this section shall be based on
values of Accounts determined in accordance with the procedures established by
the Committee. A hardship withdrawal shall be paid in a lump sum payment as soon
as is administratively feasible after the Valuation Date coinciding with or next
following the date on which the hardship withdrawal is approved.

          (e) A Participant who makes a hardship withdrawal pursuant to this
Section 5.9:

              (i)  shall not be eligible to have, for 12 months following the
     month in which the withdrawal is received, Before-Tax Contributions made on
     his behalf under this Plan or have elective contributions made on his
     behalf under any other plan maintained by the Employer or a Related
     Company, and

              (ii) shall not be eligible to have, for the Participant's taxable
     year that immediately follows the taxable year in which the hardship
     withdrawal is received, Before-Tax Contributions made on his behalf under
     this Plan (or have elective contributions made on his behalf under any
     other plan maintained by the Employer or a

                                       58

<PAGE>

     Related Company) that exceed the excess (if any) of (A) the applicable
     limit prescribed by Code Section 402(g) for such following taxable year,
     over (B) the amount of the Before-Tax Contributions made on the
     Participant's behalf under this Plan (and any elective contributions made
     on the Participant's behalf under any other plan maintained by the Employer
     or a Related Company) for the taxable year in which the hardship withdrawal
     was received.

          5.10 Distribution Values. Whenever a distribution of all or a portion
of a Participant's Account (or Accounts) is required to be made from the Plan to
a Participant or to the Alternate Payee or Beneficiary of a Participant, the
distribution shall be based on the Account Value of the Participant's Account
(or Accounts) determined as of any Valuation Date within the five Business Days
preceding the date of distribution. For purposes of this Section 5.10, the "date
of distribution" is the date of the check payable to (or wire transfer of funds
to) the Participant, Alternate Payee or Beneficiary, as the case may be.

          5.11 Location of Missing Participants.

          (a)  If a Participant who is entitled to a distribution cannot be
located after reasonable efforts have been made by the Committee to locate him
(or, in the case of the Participant's death, his Beneficiary), then the
Participant's Account shall be forfeited and used to reduce Employer Matching
Contributions for subsequent Plan Years. The Committee shall be deemed to have
made reasonable efforts to locate the Participant if the Committee is unable to
locate the Participant (or, in the case of a deceased Participant, his
Beneficiary) after having made two successive certified or similar mailings to
the last address on file with the Committee. If a Participant's Account exceeds
$500, reasonable efforts to achieve payment shall be deemed

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<PAGE>

to have been made if the Committee is unable to locate the Participant (or
Beneficiary) after two successive certified or similar mailings to the last
address on file with the Committee; provided, however, that in no event shall
such reasonable efforts be deemed to have been completed earlier than the close
of the 12 consecutive calendar month period following the last of the two
successive mailings. If a Participant's Account does not exceed $500, reasonable
efforts to achieve payment shall be deemed to have been made if the Committee is
unable to locate the Participant (or Beneficiary) after one certified or similar
mailing to the last address on file with the Committee and the Participant (or
Beneficiary) does not respond to the mailing within three months following the
date of the mailing.

          (b)  As of the Valuation Date next following the end of the 12-month
period or three-month period (whichever is applicable), the missing
Participant's Account shall be forfeited. If the Participant or Beneficiary
makes a valid written claim for the Account after it has been forfeited, the
Participant's former Employer shall make a contribution to the Plan to reinstate
the forfeited amount to the Participant's Account. The Employer's contribution
may be made in one or more payments over such period of time as the Employer
deems appropriate.

          5.12 Benefits to Minors and Incompetents.

          (a)  If any person entitled to receive payment under the Plan is a
minor, the Committee may pay the amount in a lump sum directly to the minor, to
a guardian of the minor, or to a custodian selected by the Trustee under the
appropriate Uniform Transfers to Minors Act.

          (b)  If a person who is entitled to receive payment under the Plan is
physically or mentally incapable of personally receiving and giving a valid
receipt for any payment due (unless a previous claim has been made by a duly
qualified committee or other legal

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<PAGE>

representative), the payment may be made to the person's spouse, son, daughter,
parent, brother, sister or other person deemed by the Committee to have incurred
expense for the person otherwise entitled to payment.

         5.13 No Guarantee of Values. The Employer does not guarantee that the
market value of the Company Stock when it is distributed will be equal to its
purchase price or that the total amount distributable or withdrawable under the
Plan will be equal to or greater than the amount of the Participant's
contributions and loans. Each Participant assumes all risk of any decrease in
the market value of the Company Stock and other assets allocable to his Account
in accordance with the provisions of the Plan.

         5.14 Loans. As of any Valuation Date, a Participant who is a "party in
interest" (as defined in ERISA Section 3(14)) with respect to the Plan may apply
for a loan to be made to the Participant from his vested Accounts. Loan requests
shall be made in such form and at such times as the Committee shall designate. A
loan may be made to a Participant subject to the following conditions:

         (a)  Approval of Loan. A loan may not be made to a Participant unless
the Committee (or its Administrative Delegate) approves the loan, acting
according to uniform and nondiscriminatory standards and pursuant to applicable
law. The Committee (or its Administrative Delegate) may establish one or more
written loan policies or procedures, all of which are incorporated into this
Plan by reference. The Committee (or its Administrative Delegate) shall take
into consideration the terms of any Qualified Domestic Relations Order (as
described in Section 6.9) in determining whether to approve the loan.

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<PAGE>

         (b) Amount of Loan. A loan may only be made from a Participant's vested
interest in his Accounts as of the Valuation Date as of which the loan is to be
made. The minimum loan that may be made to a Participant is $1,000 (or such
other amount as may be permitted by law) . The amount of loans outstanding to a
Participant at any time, aggregated with the outstanding balance of all other
loans to the Participant from all other qualified plans maintained by the
Employer and Related Companies, shall not exceed the lesser of:

             (i)      $50,000 reduced by the excess (if any) of the highest
    outstanding balance of loans to the Participant from the Plan during the
    one-year period ending on the day before the loan is made over the
    outstanding balance of the loans to the Participant from the Plan on the
    date the loan is made; or

             (ii)     one-half of the total vested amount then in the
    Participant's Account.

    Loans shall be made in cash. When a loan is made to a Participant, shares of
Company Stock and other assets held in his Account shall be liquidated to
provide the funds to be loaned to the Participant. The loan shall be evidenced
by a promissory note, which shall be held as an asset of the Participant `s
Account.

         (c) Non-discrimination. Loans shall be available to all Participants on
a reasonably equivalent basis, provided that the Committee may make reasonable
distinctions among prospective borrowers on the basis of creditworthiness. Loans
shall not be made available to Highly Compensated Employees in a greater
percentage of their vested Account balances than the percentage that is
available to other Participants.

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<PAGE>

         (d) Security. A loan to a Participant shall be secured by a pledge of
the Participant's Account in the Trust Fund only. A pledge of the Participant's
Account in the Trust Fund to secure a loan made from the Trust Fund shall not be
subject to the requirements of Section 13.5. Not more than one-half (or such
other amount as may be permitted by applicable law) of the Participant's vested
Account, determined immediately after the origination of the loan, may be used
as security for the outstanding balance of all Plan loans made to the
Participant.

         (e) Interest Rate. Interest on a loan shall be charged at a rate
established by the Committee from time to time.

         (f) Repayment. A loan shall be repayable within five years from the
date on which the loan is made; provided that if the loan proceeds are used to
acquire a principal residence of the Participant, the loan repayment term may be
up to ten years. Loans to Employees shall be repaid by payroll deduction, with
equal payments (including principal and interest) due the second payday of each
month; provided, however, that effective October 15, 2001, loan repayments shall
be suspended under this Plan as permitted by Code Section 414(u)(4). Loans to
Participants who are not active Employees shall be repaid according to
appropriate arrangements made by the Committee. A Participant may elect to
prepay the balance of his outstanding loan at any time by any method acceptable
to the Committee. If a Participant elects to prepay his outstanding loan, the
prepayment must be for the entire balance of the loan amount, unless applicable
law provides otherwise.

         (g) Loan as a Separate Investment of the Participant's Account. A loan
made to a Participant shall be considered a separate investment of the portion
of the Participant's

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<PAGE>

Account that is equal to the outstanding balance of the loan. The balance in the
borrowing Participant's Account shall be reduced by the outstanding balance of
the loan for purposes of allocating net income and increases and decreases in
the value of Trust Fund assets. Interest and principal paid on the loan shall be
credited to the borrowing Participant's Account and shall be invested as
described in Sections 8.7 and 8.13. Principal and interest paid on the loan
shall not be considered earnings of the Trust Fund for allocation purposes.

         (h) Expenses. All expenses incurred by the Committee and the Trustee in
making, administering, and collecting a loan may be charged against the Account
of the borrowing Participant. The Committee, acting in cooperation with the
Human Resources Department, may implement a policy charging a loan processing
fee.

         (i) Loan Amortization. The loan must be amortized in level payments
made not less frequently than quarterly over the term of the loan. However,
notwithstanding anything herein to the contrary, effective with respect to loans
made on or after January 1, 2002, the Committee may prescribe uniform
nondiscretionary rules pursuant to which a payment not made by the date as of
which it is due pursuant to the terms of the related promissory note will not be
deemed a violation of the level amortization requirement of Code Section
72(p)(2)(C) if it is made not later than the end of the calendar quarter
following the calendar quarter in which the required installment was due.

         (j) Default. If an outstanding loan is not repaid as and when due, the
principal of and interest on the loan shall be deducted from any benefit that
the Participant or his Beneficiary is entitled to receive, and the Participant
or Beneficiary shall be subject to tax in accordance with Code requirements. The
unpaid principal and interest shall be deducted from

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<PAGE>

the Account on the first date on which a Participant's Account may be
distributed. A loan shall become due and payable upon a Participant's
termination of employment. If the Participant (or Beneficiary, in the event of
the Participant's death) does not repay the loan within 90 days after the
Participant's termination of employment, the portion of the Participant's
Account attributable to the unpaid loan shall be deemed to be distributed to the
Participant (or Beneficiary) as of the end of the 90-day period, and the
Participant's Account balance shall be automatically offset by the unpaid loan
balance. Notwithstanding the foregoing, in the case of a Participant who returns
to employment with the Company or a Related Company prior to the end of such
90-day period, the loan shall not be deemed distributed and his Account balance
shall not be offset, provided he makes all payments that are due and outstanding
as of his date of reemployment (pursuant to the amortization schedule issued
under such loan) prior to the end of such 90-day period.

         (k)  Forms and Documents. The Committee (or its Administrative
Delegate) may adopt and utilize such forms and other documents and procedures
(including the use of telephonic communications) as may be necessary or
appropriate to administer the Plan's loan provisions, and such forms, documents,
and procedures are incorporated herein by this reference.

         5.15 Eligible Rollover Distributions.

         (a)  Notwithstanding any provision of the Plan to the contrary, a
distributee may elect, at the time and in the manner prescribed by the
Committee, to have any portion of an eligible rollover distribution paid
directly to an eligible retirement plan specified by the distributee in a direct
rollover.

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<PAGE>

         (b)  Definitions.

              (i)   Eligible rollover distribution: An eligible rollover
distribution is any distribution of all or any portion of the balance to the
credit of the distributee, except that an eligible rollover distribution does
not include: any distribution that is one of a series of substantially equal
periodic payments (not less frequently than annually) made for the life (or life
expectancy) of the distributee or the joint lives (or joint life expectancies)
of the distributee and the distributee's designated beneficiary, or for a
specified period of ten years or more; any distribution to the extent such
distribution is required under Code Section 401(a)(9); the portion of any
distribution that is not includable in gross income (determined without regard
to the exclusion for net unrealized appreciation with respect to employer
securities); and, effective with respect to distributions after December 31,
1999, any hardship distribution described in Code Section 401(k)(2)(B)(i)(IV).

              (ii)  Eligible retirement plan: An eligible retirement plan is an
individual retirement account described in Code Section 408(a) , an individual
retirement annuity described in Code Section 408(b), an annuity plan described
in Code Section 403 (a), or a qualified trust described in Code Section 401(a),
that accepts the distributee's eligible rollover distribution. However, in the
case of an eligible rollover distribution to the surviving spouse, an eligible
retirement plan is an individual retirement account or individual retirement
annuity.

              (iii) Distributee: A distributee includes an employee or former
employee. In addition, the employee's or former employee's surviving spouse and
the

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<PAGE>

         employee's or former employee's spouse or former spouse who is the
         alternate payee under a qualified domestic relations order, as defined
         in Code Section 414 (p), are distributees with regard to the interest
         of the spouse or former spouse.

              (iv) Direct rollover: A direct rollover is a payment by the Plan
to the eligible retirement plan specified by the distributee.

         5.16 Insiders. Notwithstanding anything in the Plan to the contrary:

         (a)  The Committee may impose on Insiders such restrictions and
requirements regarding participation, contributions, investments, distributions
and other matters as the Committee deems appropriate to comply with Rule 1Gb-3.

         (b)  If required by Rule lEb-3 or other applicable law, a loan made by
an Insider shall not be funded from the Insider's interest in the Company Stock
Fund.

         (c)  If required by Rule lGb-3 or other applicable law, a Participant
who is an Insider may not request a withdrawal from, or a transfer to or from,
the Company Stock Fund more frequently than once a month.

         5.17 Payments to Alternate Payees. An Alternate Payee shall be entitled
to receive a distribution from a Participant's Account (pursuant to a Qualified
Domestic Relations Order) notwithstanding the fact that the Participant is not
currently eligible to receive a distribution from the Plan, provided the
distribution is made in accordance with the procedures described in Code Section
414(p) and Sections and 6.9 of the Plan. Notwithstanding the foregoing, a
distribution shall be made under this Section 5.17 only to the extent the
Participant is vested in his Account.

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<PAGE>

                                   Section VI

                         ADMINISTRATION BY THE COMMITTEE

         6.1 Plan Administrator. The Plan shall be administered by the
Committee. The members of the Committee shall consist of one or more persons
appointed from time to time by the Company, by action of the Board, to serve
until their death, resignation or removal by the Company. A person shall not be
ineligible to be a member of the Committee because he is or may become a
Participant in the Plan. Any member of the Committee may be removed, and new
members may be appointed, by action of the Board. The Committee and each of its
members shall be named fiduciaries with respect to the Plan, and shall be
indemnified by the Employer against any and all liabilities incurred by reason
of any action taken in good faith pursuant to the provisions of the Plan. For
purposes of administering the Plan, the Committee may delegate any or all of its
duties, powers and responsibilities to one or more persons, entities, divisions
or subcommittees, whose members may or may not be members of the Committee.

         6.2 Responsibilities. The Committee shall have responsibility and
authority to take all action and to make all decisions necessary or proper to
carry out the Plan. The determination of the Committee as to any question
involving the administration and interpretation of the Plan shall be final,
conclusive and binding. Without limiting the generality of the foregoing, the
Committee shall have the power, duty and express discretionary authority:

         (a) to require any person to furnish such information as it may request
for the purpose of the proper administration of the Plan as a condition to
receiving any benefits under the Plan;

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<PAGE>

         (b) to make and enforce such rules and regulations and prescribe the
use of such forms as it shall deem necessary for the efficient administration of
the Plan;

         (c) to construe and interpret the Plan, to resolve any ambiguity or
inconsistency, to determine all matters of fact, and to decide all questions of
eligibility and to determine the amount, manner and time of payment of any
benefits hereunder;

         (d) to prescribe procedures to be followed by Employees in filing
applications for benefits;

         (e) to make a determination as to the right of any person to a benefit
and to afford any person dissatisfied with such determination the right to a
hearing;

         (f) to employ counsel, accountants, specialists, agents and such
clerical, medical and other services as the Committee may require in carrying
out the provisions of the Plan;

         (g) to determine the manner in which the assets of the Plan shall be
disbursed;

         (h) to prepare and distribute, in such manner as it determines to be
appropriate, information explaining the Plan;

         (i) to furnish the Employer, upon request, with such annual reports
with respect to the administration of the Plan as are reasonable and
appropriate;

         (j) to direct the Trustee as to the method in which and persons to whom
Plan assets are to be distributed;

                                       69

<PAGE>

         (k) to authorize one or more persons to make any payment on its behalf,
or to execute or deliver any instrument;

         (l) to appoint an independent fiduciary to carry out activities
relating to the Company Stock Fund if the Trustee so requests in accordance with
Section 8.11(b);

         (m) to engage an Administrative Delegate who shall perform, without
discretionary authority or control, administrative functions within the
framework of policies, interpretations, rules, practices, and procedures
established by the Committee from time to time;

         (n) to establish, for administrative purposes, unit values for one or
more Investment Funds (or any portion thereof) and maintain the Accounts setting
forth each Participant's interest in such Investment Fund (or any portion
thereof) in terms of such units, all in accordance with such rules and
procedures as the Committee shall establish. In the event that unit accounting
is thus established for any Investment Fund, the value of a Participant's
interest in that Investment Fund (or any portion thereof) at any time shall be
an amount equal to the then value of a unit in such Investment Fund (or any
portion thereof) multiplied by the number of units then credited to the
Participant;

         (o) to establish an investment policy and select Investment Funds for
the Trust Fund;

         (p) to receive and review reports on the financial condition of the
Trust Fund and statements of the receipts and disbursements of the Trust Fund
from the Trustee; and

         (q) to appoint one or more Investment Managers to manage any part or
all of the assets of the Plan.

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<PAGE>

         The Committee shall have the power to modify by administrative practice
the time periods set forth in the Plan for filing applications with respect to
withdrawals, distributions and Plan loans.

         6.3 Delegation of Duties:

         (a) To the extent permitted by law, the Committee and any person to
whom it may delegate any duty or power in connection with the Plan and the
Employer and its officers and directors shall be entitled to rely conclusively
upon, and shall be fully protected in any action taken or suffered by them in
good faith in the reliance upon, any counsel, accountant, other specialist or
other person selected by the Committee, or in reliance upon any tables,
valuations, certificates, opinions or reports that shall be furnished by any of
them or by the Trustee. To the extent permitted by law, no member of the
Committee or any subcommittee, nor the Employer or its officers and directors,
shall be liable for any neglect, omission or wrongdoing of the Trustee or of any
other person to whom powers, duties or responsibilities with respect to the Plan
have been delegated.

         (b) The Committee may adopt such rules, regulations and bylaws and may
make such decisions as it deems necessary or desirable for the proper
administration of the Plan, and all rules and decisions of the Committee shall
be uniformly and consistently applied to all Participants in similar
circumstances. Any rule or decision that is not inconsistent with the provisions
of the Plan shall be conclusive and binding upon all persons affected by it, and
there shall be no appeal from any ruling by the Committee that is within its
authority, except as otherwise provided herein. When making a determination or
calculation, the Committee shall be

                                       71

<PAGE>

entitled to rely upon information furnished by an Employer or anyone acting on
behalf of an Employer.

         6.4 Indemnification. The Employer shall indemnify each Committee member
and each other Employee who is involved in the administration of the Plan
against all costs, expenses and liabilities, including attorney's fees, incurred
in connection with any action, suit or proceeding instituted against any of them
alleging any act of omission or commission performed while discharging their
duties with respect to the Plans, other than liability incurred as a result of
that person's gross negligence or willful misconduct. Promptly after receipt by
an indemnified party of notice of the commencement of any action, the
indemnified party shall notify the Employer of the action. The Employer shall be
entitled to participate at its own expense in the defense or to assume the
defense of any action brought against any indemnified party. If the Employer
elects to assume the defense of any such suit, the defense shall be conducted by
counsel chosen by the Employer, and the indemnified party shall bear the fees
and expenses of any additional counsel retained by him.

         6.5 Operation. The Board shall appoint a chairman of the Committee, and
the Board shall also appoint a secretary of the Committee who may, but need not,
be a member of the Committee. Notwithstanding the immediately preceding
sentence, the members of the Committee may elect a new chairman, and the members
of the Committee may also elect a new secretary who may, but need not, be a
member of the Committee. The Committee shall have the power to: (a) appoint from
its membership such sub-committees with such powers as the Committee shall
determine, (b) authorize one or more of its members or any agent to execute or
deliver any instrument or to make any payment on behalf of the Committee, and
(c) employ counsel and agents and such clerical and other services as the
Committee shall deem requisite or

                                       72

<PAGE>

desirable in carrying out the provisions of the Plan. The Committee shall be
fully protected in relying on data, information or statistics furnished it by
persons performing ministerial and limited discretionary functions as long as
the Committee has had no reason to doubt the competence, integrity or
responsibility of any such person.

         6.6 Meetings and Quorum. The Committee shall hold meetings upon such
notice, at such places, and at such intervals as it may from time to time
determine. A majority of the members of the Committee at the time in office
shall constitute a quorum for the transaction of business. All resolutions or
other actions taken by the Committee at any meeting shall be by the vote of a
majority of those present at any such meeting. Action may be taken by the
Committee without a meeting by a written consent signed by a majority of the
members of the Committee.

         6.7 Compensation. The members of the Committee shall not be entitled to
any compensation for their services with respect to the Plan, but the Committee
members shall be entitled to reimbursement for any and all necessary expenses
that each member may incur. The expenses shall be paid by the Employer or from
the Trust Fund. Any such payments from the Trust Fund shall be deemed to be for
the exclusive benefit of Participants. Unless otherwise determined by the
Company or required by law, no officer of the Company and no member of the
Committee or any subcommittee shall be required to give any bond or other
security in any jurisdiction.

         6.8 Duties Assigned to Human Resources Division. The Committee has
delegated to the Human Resources Division, or other servicing agent, the
following duties:

         (a) designing all necessary forms; and

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<PAGE>

         (b) administering daily operations of the Plan including administration
of loans (Section 5.14) and withdrawals (Section 5.9).

         6.9 Domestic Relations Orders.

         (a) If the Trustee or the Committee receives a domestic relations order
that purports to require the payment of a Participant's benefits to a person
other than the Participant, the Committee shall take the following steps:

             (i)   If benefits are in pay status, the Committee shall direct the
      Trustee to withhold funds and account separately for the amounts that will
      be payable to the Alternate Payees (defined below) if the order is a
      Qualified Domestic Relations Order (defined below).

             (ii)  The Committee shall promptly notify the named Participant and
      any Alternate Payees of the receipt of the domestic relations order and of
      the Committee's procedures for determining if the order is a Qualified
      Domestic Relations Order.

             (iii) The Committee shall determine whether the order is a
      Qualified Domestic Relations Order under the provisions of Code Section
      414 (p).

             (iv)  The Committee shall notify the named Participant and any
      Alternate Payees of its determination as to whether the order meets the
      requirements of a Qualified Domestic Relations Order.

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         (b) If, within 18 months beginning on the date the first payment would
be made under the domestic relations order (the "18-Month Period"), the order is
determined to be a Qualified Domestic Relations Order, the Committee shall
direct the Trustee to pay the specified amounts to the persons entitled to
receive the amounts pursuant to the order.

         (c) If, within the 18-Month Period (i) the order is determined not to
be a Qualified Domestic Relations Order or (ii) the issue as to whether the
order is a Qualified Domestic Relations Order has not been resolved, the
Committee shall direct the Trustee to pay the amounts (and any interest thereon)
to the Participant or other person who would have been entitled to such amounts
if there had been no order.

         (d) If an order is determined to be a Qualified Domestic Relations
Order after the end of the 18-Month Period, the determination shall be applied
prospectively only.

         (e) For the purposes of this Section, the following terms shall have
the following definitions:

             (i)  Alternate Payee: Any spouse, former spouse, child or other
dependent of a Participant who is recognized by a domestic relations order as
having a right to all or a portion of the benefits payable under the Plan to the
Participant.

             (ii) Qualified Domestic Relations Order: Any domestic relations
order or judgment that meets the requirements set forth in Code Section 414 (p).

Section XII

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                                  SECTION VII

                        DUTIES AND POWERS OF THE TRUSTEE

          7.1  General. The Trustee shall receive, hold, manage, convert, sell,
exchange, invest, disburse and otherwise deal with such contributions as may
from time to time be made to the Trust Fund and the income and profits
therefrom, in the manner and for the uses and purposes of the Plan as provided
in the Plan and in the Trust Agreement described in Section 7.2. If an
Investment Manager is appointed, the Investment Manager shall manage all or a
portion of the assets of the Trust Fund in accordance with instructions given by
the Committee.

          7.2  Trust Agreement. The Company has entered into a Trust Agreement
with the Trustee under which the Trustee will receive, invest and administer the
Trust Fund. The Trust Agreement is incorporated by reference as a part of the
Plan, and the rights of all persons under the Plan are subject to the terms of
the Trust Agreement. The Trust Agreement provides for the investment and
reinvestment of the Trust Fund, the management of the Trust Fund, the
responsibilities and immunities of the Trustee, the removal of the Trustee and
appointment of a successor, the accounting by the Trustee and the disbursement
of the Trust Fund.

          7.3  Limitation of Liability. The Trustee shall hold in trust and
administer the Trust Fund subject to all the terms and conditions of this Plan
and of the Trust Agreement. The Trustee's responsibility shall be limited to
holding, investing and reinvesting the assets of the Trust Fund from time to
time in its possession or under its control as Trustee and to disbursing funds
as shall be directed by the Committee. The Trustee shall not be responsible for
the correctness of any payment or disbursement or action if made in accordance
with the instructions of the Committee. If an Investment Manager is appointed,
the Trustee's liability and

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responsibility with regard to holding, investing and reinvesting the assets
shall be limited as provided in the Trust Agreement.

          7.4  Power of Trustee to Carry Out the Plan. If, at any time, the
Company or the Committee shall be incapable, for any reason, of giving
directions, instructions or authorizations to the Trustee, as herein provided,
the Trustee may act, without such directions, instructions or authorizations, as
it, in its discretion, shall deem appropriate and advisable under the
circumstances for carrying out the provisions of the Plan.

          7.5  Appointment of Investment Managers. The Committee may appoint
investment managers to manage part or all of the trust assets, as provided in
the Trust Agreement. An investment manager must qualify as an investment manager
under ERISA Section 3(38).

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                                  SECTION VIII

                              DIRECTED INVESTMENTS

          8.1  Directed Investments. Each Participant shall have the right to
direct the investment of any or all of his Accounts subject to the requirements
of Sections 8.2 and 8.3 among the Investment Funds authorized by the Committee,
in accordance with regulations issued under the Code and ERISA, as follows:

          (a)  Each Participant may file a written investment direction with the
Committee or its Administrative Delegate that specifies the Investment Funds (as
described in Section 8.3) in which his Accounts are to be invested.

          (b)  The Committee shall prescribe dates as of which investment
directions shall be effective and time periods within which written investment
directions must be filed with the Committee. An investment direction shall
continue to apply until a subsequent written direction is filed with the
Committee.

          (c)  The Committee shall forward investment directions to the Trustee
(or to such third party as the Committee and the Trustee shall designate) in
order to implement the Participants' directions.

          (d)  In addition to the above, Participants may make daily investment
directions by giving telephonic instructions in accordance with the procedures
established by the Committee.

          8.2  Investment Election Changes. A Participant may (a) change
prospectively his investment direction or (b) reallocate the percentage
investment of his aggregate investments

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with respect to any of his Accounts described in Section 4.1 effective as of any
Valuation Date by following the telephonic investment direction procedures or
other procedures established by the Committee.

          8.3  Investment Funds.

          (a)  Except as otherwise provided in Subparagraph (ii) below, a
Participant shall have the right to direct the investment of his Accounts
attributable to Before-Tax Contributions, After-Tax Contributions, Employer
Matching Contributions and Employer Profit-Sharing Contributions in one or more
Investment Funds and such additional Investment Funds as may be authorized for
investment by the Committee from time to time, including a Company Stock Fund
that invests primarily in common stock of the Company.

     If the name of any Investment Fund changes, then the provisions of this
Section 8.3 shall continue to apply to such Investment Fund, as renamed.

          (b)  The Committee may add to or reduce the number and type of
Investment Funds that are available for investment in any Plan Year. The
Committee shall select the Investment Funds in accordance with ERISA Section
404(c) and the regulations thereunder. Special Investment Funds with respect to
assets of plans that are merged into or transferred out of the Plan may be
designated pursuant to an applicable Appendix. The Committee may limit the
percentage of Participants' Accounts that may be invested in any one of the
Investment Funds, and the Committee may establish rules relating to the
investment of Accounts in the Investment Funds. The percentage investment in one
or all of the Investment Funds shall be in whole percentages, beginning with 0%
and ending with 100%.

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          (c)  Any portion of an Investment Fund described in Subsection (a)
may, pending permanent investment or distribution, be invested in short term
securities issued or guaranteed by the United States of America or any agency or
instrumentality thereof or any other investments of a short term nature,
including corporate obligations or participations therein and through the medium
of any common, collective or commingled trust fund maintained by the Trustee
which is invested principally in property of the kind specified in this
subsection. A portion of an Investment Fund may be maintained in cash.

          (d)  Income from investments in each Investment Fund shall be
reinvested in the same Investment Fund. Investment expenses for each Investment
Fund shall be charged to the Participants' Accounts for purposes of determining
the increase (or decrease) in the fair market value of the Trust Fund.

          8.4  Information.

          (a)  To the extent required by applicable law or regulations, each
Participant shall be provided the following information for each Investment
Fund:

               (i)  an explanation that the Plan is intended to constitute a
     plan described in ERISA Section 404(c) and the corresponding regulations,
     and that the fiduciaries of the Plan may be relieved of liability for any
     losses which are the direct and necessary result of investment instructions
     given by such Participant;

               (ii) a description of the Investment Fund and its investment
     objectives and risk and return characteristics, including the type and
     diversification of assets in the investment;

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         (iii)  an identification of any designated investment managers;

         (iv)   an explanation of the circumstances under which the Participant
may give instructions and limitations thereon;

         (v)    a description of any fees and expenses which may be charged to
the Participant's Account in connection with purchases or sales of interests in
the Investment Fund;

         (vi)   the name, address and telephone number of the Plan fiduciary (or
his designee) responsible for providing the information required under this
Section 8.4;

         (vii)  any materials relating to the exercise of voting or similar
rights incidental to the Participant's ownership interest in the Investment
Fund, to the extent that such rights are passed through to Participants under
the terms of the Plan;

         (viii) if the Investment Fund is subject to the Securities Act of 1933,
a copy of the most recent prospectus immediately prior to the Participant's
initial investment in the Investment Fund; and

         (ix)   with respect to the Company Stock Fund, Participants shall be
provided with all information generally required to be provided to shareholders
of the Company.

     (b) To the extent required by applicable law or regulations, upon request,
each Participant shall also be provided the following information for each
Investment Fund:

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<PAGE>

         (i)   a description of the annual operating expenses and the total
expenses, expressed as a percentage of average net assets;

         (ii)  copies of any prospectuses, financial statements and reports, and
any other materials that are available to the Plan;

         (iii) a list of the assets comprising the portfolio, together with the
value of each asset and, if the asset is a fixed rate contract issued by a bank,
savings and loan association, or insurance company, the name of the issuer, the
term, and the rate of return on the contract;

         (iv)  information concerning the value of shares or units in Investment
Funds available to Participants under the Plan, as well as the past and current
investment performance of such funds (determined, net of expenses, on a
reasonable and consistent basis); and

         (v)   information concerning the value of shares or units held in the
Account of the Participant.

     8.5 Limitations on Directed Investments. A Participant may not issue
investment directions that would:

     (a) result in a prohibited transaction as described in ERISA Section 406 or
Code Section 4975;

     (b) generate taxable income to the Plan or jeopardize its tax qualified
status;

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<PAGE>

         (c) not be in accordance with the documents and instruments governing
the Plan;

         (d) cause a fiduciary to maintain the indicia of ownership in an asset
outside jurisdiction of the United States district courts;

         (e) result in a loss greater than the balance in the Participant's
Account; or

         (f) result in certain transactions between the Plan and the Employer or
an affiliate of the Employer.

         8.6 Application to Beneficiaries and Alternate Payees. All
Beneficiaries of deceased Participants who have Account balances in the Plan may
direct the investment of their Accounts into any one or more of the Investment
Funds offered pursuant to Section 8.3. After an Alternate Payee's interest in a
Participant's Accounts has been finally determined pursuant to Section 6.9, the
Alternate Payee may direct the investment of the Alternate Payee's Accounts into
one or more of the Investment Funds offered pursuant to Section 8.3, to the same
extent that the Participant could have directed the investment of the Accounts.

         8.7 Order of Withdrawals and Loans from the Investment Funds. When a
withdrawal or loan is made from a Participant's Account that is invested in more
than one Investment Fund, the amount to be withdrawn or loaned shall be deducted
proportionately from the amount invested in each Investment Fund. In the case of
a loan, the amount to be deducted from each Investment Fund shall be determined
as of the Valuation Date as of which the loan is to be made, after amounts to be
allocated as of the Valuation Date have been allocated but before any transfers
between the Investment Funds or withdrawals have been made. Loan repayments

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<PAGE>

shall be credited to the Investment Funds in accordance with the Participant's
then current investment elections with respect to his current contributions to
the Plan. In the case of a withdrawal, the amount to be deducted from each
Investment Fund shall be determined as of the Valuation Date as of which the
withdrawal is to be made, after amounts to be allocated as of that Valuation
Date have been allocated and after any loans or any transfers between Investment
Funds have been made. The Committee shall have discretion to change the order in
which withdrawals and loans from the Investment Funds are to be made and
credited.

         8.8  Accounts Not Directed. If a Participant fails to designate the
fund or funds in which his Accounts are to be invested, the Participant's
Accounts shall be invested by the Trustee in the Investment Fund designated by
the Committee for this purpose.

         8.9  Limitation on Insiders' Interests in Company Stock. The Committee
may
determine that the fair market value of Company Stock held in the Accounts of
Participants who are Insiders may not equal or exceed 20% of the fair market
value of all securities with a readily ascertainable fair market value that are
then held in the Trust Fund. If the limitation of this Section is or may be
exceeded, the Committee may direct Insiders to invest all or part of their
Accounts in investments other than the Company Stock Fund, consistent with
applicable Code and ERISA requirements.

         8.10 Voting, Tender and Exercise of Similar Rights.

         (a)  A Participant may instruct the Trustee how to vote, tender, or
exercise similar rights with respect to assets that are allocated to the
Participant's Account. The Trustee shall hold any voting, tender, or similar
instructions it receives from a Participant in the strictest confidence and
shall implement and follow procedures sufficient to safeguard the
confidentiality

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<PAGE>

of such instructions, except to the extent necessary to comply with Federal or
state laws not preempted by ERISA.

         (b)  Except as provided in the following sentence and unless otherwise
required by applicable law, the Trustee shall not vote proxies or exercise other
rights of ownership with respect to unallocated assets held in Investment Funds
or assets that have been allocated to a Participant's Account for which no
instructions have been received. To the extent practicable, all unallocated
assets held under the Plan (other than Company Stock) shall, solely for the
purposes of this Section 8.10, be allocated to the Account of each Participant
who has issued instructions to the Trustee in the same proportion as such
Participant's allocated proportion of assets bears to the aggregate of all like
assets for which instructions have been issued by the Participant to the
Trustee.

         (c)  The Committee (or its agent) shall ensure that all notices, forms,
and other information regarding the exercise of voting, tender, or similar
rights are distributed to Participants within a reasonable time before voting,
tender, or similar rights are to be exercised. Instructions from a Participant
must be received by the Trustee in time for the Trustee to act with respect to
them.

         8.11 Management of the Company Stock Fund.

         (a)  The Committee shall implement and follow procedures sufficient to
safeguard the confidentiality of information relating to the purchase, holding,
and sale of Company Stock in the Company Stock Fund, except to the extent
necessary to comply with federal or state laws not preempted by ERISA.

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<PAGE>

               (b)   If required by law, the Committee shall appoint an
independent fiduciary (within the meaning of applicable Department of Labor
regulations) to perform certain functions with respect to the Company Stock Fund
if the Committee determines that appointment of an independent fiduciary is
necessary because of a potential for undue Employer influence upon Participants
with regard to the direct or indirect exercise of their shareholder rights.

               (c)   The Committee shall manage the Company Stock Fund in a
manner consistent with ERISA, the Code and applicable securities laws.
Consistent with these laws, the Committee shall implement appropriate
procedures, restrictions and limitations with respect to the purchase and sale
of Company Stock.

               8.12  Allocation of Income in the Company Stock Fund.

               (a)   All net income that is earned by the Company Stock Fund on
investments other than Company Stock shall be invested by the Trustee in shares
of Company Stock (except to the extent that the Trust Agreement or any
applicable administrative services agreement provides otherwise) . Units of
Company Stock attributable to such net income shall be allocated among the
Accounts invested in the Company Stock Fund as of each Valuation Date in the
proportion that the value of each such Account as of the preceding Valuation
Date bears to the value of all such Accounts on the preceding Valuation Date. As
described in Section 5.14(g), the outstanding balance of a Participant's loans
shall not be included as part of his Account balance for purposes of allocations
under this Section 8.12.

               (b)   Cash dividends paid on Company Stock held in the Company
Stock Fund shall be reinvested in shares of Company Stock and shall be allocated
among the Accounts

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<PAGE>

invested in the Company Stock Fund on the basis of the number of units held in
each Account as of the previous Valuation Date.

               (c)   All Company Stock or other assets received as a result of a
stock split or stock dividend, a reorganization or other recapitalization of the
Company, spin-off of a subsidiary, or any other transaction shall be allocated
among the Participant's Accounts invested in the Company Stock Fund on the basis
of the number of units held in each Account as of the previous Valuation Date.

               8.13  Allocation of Income in Investment Funds. This Section
shall apply to all Investment Funds described in Section 8.3 except the Company
Stock Fund. All net income that is earned on investments in Investment Funds
described in Section 8.3 shall be reinvested by the Trustee in the Investment
Funds. As of each Valuation Date, the Trustee shall determine the current fair
market value of each Investment Fund. As of each Valuation Date, before making
adjustments for withdrawals, loans and transfers, the Committee shall adjust the
Accounts to reflect the value of the Investment Fund as of such date; such
adjustment shall be based on each Participant's Account balance invested in the
Investment Fund as of the preceding Valuation Date. As described in Section
5.14(g), the outstanding balance of a Participant's loans shall not be included
as part of his Account balance for purposes of allocations under this Section
8.13.

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                                   SECTION IX

                            AMENDMENT AND TERMINATION

               9.1  Reserved Power to Modify, Suspend or Terminate. As future
conditions affecting this Plan cannot be foreseen, the Company reserves the
right, through action of the Board, to amend, modify, suspend, or terminate the
Plan. The Board may effect an amendment either by adopting a resolution setting
forth or incorporating the specific terms of the amendment or by adopting a
resolution authorizing one or more officer(s) to amend the Plan as necessary and
appropriate to carry out the intention of the Board as expressed in the
resolution; provided that the Plan Administrator may make technical and
conforming amendments to the Plan and any other amendments that do not result in
an annual cost to the Company reasonably estimated by the Plan Administrator to
be in excess of $500,000. Any amendment may affect both current and future
Participants and Beneficiaries, but may not diminish the balances in the
Accounts of any Participant or Beneficiary as they existed immediately before
the effective date of the amendment.

               9.2  Amendment Requiring Shareholder Approval. If and to the
extent required to comply with Rule 16b-3, any amendment to the Plan made prior
to September 1, 1994 that would (a) materially increase the benefits accruing to
Participants under the Plan, (b) materially increase the number of securities
that may be issued under the Plan, or (c) materially modify the requirements as
to eligibility for participation in the Plan, must be submitted to the
shareholders of the Company for approval. Notwithstanding the foregoing, the
Board may increase the number of Investment Funds offered under the Plan without
first obtaining the approval of the shareholders of the Company. If the
September 1, 1994 effective date of the current proposed changes to Rule 16b-3
is postponed, the September 1, 1994 date referred to

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<PAGE>

above shall be deemed to refer to such postponed effective date of the current
proposed changes to Rule 16b-3.

               9.3  Termination. If the Plan is terminated or if there is a
complete discontinuance of contributions to the Plan, with or without notice,
each Participant's interest in his Accounts shall become fully vested. A partial
termination of the Plan, with or without notice, shall be deemed to be a
termination of the Plan resulting in full vesting as to the part of the Plan
that is terminated. In the event of a termination of the Plan, Participants'
Accounts shall be distributed or transferred, as elected by Participants
pursuant to procedures established by the Committee. A Related Company that has
adopted the Plan may terminate its participation in the Plan at any time. In the
event of such termination, the Related Company may adopt a successor plan
providing substantially similar benefits and the interests of each Participant
who is an Employee of the Related Company shall be transferred to the trustee or
other funding agent for such successor plan. If the Related Company does not
establish a successor plan within six months of its notice of termination of
participation in the Plan (or gives sooner notice that no successor plan will be
established) then the Plan shall be deemed to be terminated with respect to the
Related Company.

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                                   SECTION X

                                CLAIMS PROCEDURE

               10.1  Benefit Claims Procedure.

               (a)   If any person makes a claim regarding the amount of any
distribution or its method of payment, such person shall present the reason for
the claim in writing to the Committee. The Committee in its discretion, may
request a meeting to clarify any matters that it deems pertinent. A claimant who
is denied a claim shall, within 90 days of its receipt of the claim, be given
notice by the Committee that describes:

                     (i)   the specific reason or reasons for the denial;

                     (ii)  the specific reference to the Plan provisions on
         which the denial is based;

                     (iii) a list of additional material or information (if any)
         that is necessary for the claimant to perfect the claim, with an
         explanation of why the additional information is needed;

                     (iv)  an explanation of the Plan's claim procedure; and

                     (v)   an explanation that the claimant may request a review
         of his claim denial by the Committee by filing a written request with
         the Committee not more than 60 days after receiving written notice of
         the denial and that the claimant, or his representative, before such
         review, may review pertinent documents and submit issues and comments
         in writing.

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<PAGE>

         The Committee's failure to respond to a claim within 90 days of its
receipt shall be considered a denial of the claim.

               (b) If a review of the initial denial is requested and the claim
is again denied, the Committee shall again give written notice within 60 days of
its decision to deny the claim to the claimant setting forth items (i) and (ii)
above. All final interpretations, determinations and decisions of the Committee
with respect to any matter hereunder shall be conclusive and binding upon the
Employer, Participants, Employees, Beneficiaries, and all other persons claiming
interest under the Plan, except as otherwise provided by ERISA.

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                                   SECTION XI

                           ADOPTION OF PLAN BY RELATED

                        COMPANIES AND TRANSFERRED ASSETS

               11.1  Adoption of the Plan. Any Related Company may become an
Employer, with the approval of the Board, by adopting the Plan for its
Employees. A Related Company that becomes a party to the Plan shall promptly
deliver to the Trustee a certified copy of the resolutions or other documents
evidencing its adoption of the Plan. Notwithstanding anything in the Plan to the
contrary, a Related Company adopting the Plan may determine whether and to what
extent periods of employment with the Related Company before the Related Company
adopts the Plan shall be included as Service under the Plan, and a Related
Company may exclude certain classes of Employees from eligibility to participate
in the Plan, as long as the exclusion does not result in prohibited
discrimination under the Code.

               11.2  Withdrawal. An Employer may withdraw from the Plan at any
time by giving the Committee advance notice in writing of its intention to
withdraw. Upon receipt of notice of a withdrawal, the Committee shall certify to
the Trustee the equitable share of the withdrawing Employer in the Trust Fund,
and the Trustee shall set aside from the Trust Fund such securities and other
property as it shall, in its sole discretion, deem to be equal in value to the
withdrawing Employer's equitable share. If the Plan is to be terminated with
respect to the withdrawing Employer, the amount set aside shall be administered
according to Section 9.3. If the Plan is not to be terminated with respect to
the withdrawing Employer, the Trustee shall turn over the withdrawing Employer's
equitable share to a trustee designated by the withdrawing Employer, and the
securities and other property shall thereafter be held and invested as a
separate trust of the withdrawing Employer.

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<PAGE>

               11.3  Sale of Employer or Division. If substantially all of the
stock or assets of an Employer or a division of an Employer are sold, the
Accounts of Participants who are Employees of the affected Employer or division
may be transferred to a tax-qualified defined contribution plan of the
purchaser. If such a transfer is made, the Accounts of the affected Participants
shall be transferred to a tax-qualified plan of the purchaser, and the affected
Participants shall no longer be entitled to any benefits under this Plan. The
transfer of Accounts shall be full satisfaction of this Plan's obligation to
provide benefits to the affected Participants and their Beneficiaries.

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                                  SECTION XII

                                   TOP HEAVY

               12.1  Top Heavy. If the Plan is Top Heavy for any Plan Year, then
the provisions of this Section XII shall apply, notwithstanding anything in the
Plan to the contrary. The determination of Top Heavy status shall be made as
follows:

               (a)   "Top Heavy" plans are plans that are qualified under Code
Section 401(a) and under which the sum of the account balances of Key Employees
under defined contribution plans and the present value of accrued benefits of
Key Employees under defined benefit plans, if any, exceeds 60% of the sum of the
present value of accrued benefits and account balances of all employees, former
employees (except for former employees who perform no services for the Employer
for the five-year period ending on the determination date), and beneficiaries in
the plans. The determination date is the date on which it is determined whether
this Plan is Top Heavy. Such determination shall be made as of the last day of
the immediately preceding Plan Year, based on values as of that date, and shall
be made in accordance with Code Section 416(g). In determining whether the Plan
is Top Heavy, actuarial equivalence and benefit accruals shall be determined on
the basis of the definition of actuarial equivalence and accrued benefits used
for purposes of the Capital One Financial Corporation Cash Balance Pension Plan,
as in effect at the time. If the Employer and Related Companies maintain more
than one qualified plan, then (i) each such plan in which a Key Employee is or
was a participant at any time during the determination period (regardless of
whether the plan has terminated) and (ii) each such plan that must be taken into
account in order for a plan described in the preceding clause to meet the
requirements of Code Sections 401(a)(4) and 410 shall be aggregated with this
Plan to determine whether the plans, as a group, are Top Heavy. For purposes of
the Top Heavy test, the Employer

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<PAGE>

may aggregate any other qualified plans with this Plan to the extent that such
aggregation is permitted by Code Section 416(g). The Company shall determine
whether the Plan is Top Heavy. For purposes of the preceding sentence, a plan
includes a terminated plan which was maintained by the Company within the last
five years ending on the determination date and would otherwise be required to
be aggregated with this Plan.

               (b)   A Key Employee is an Employee, former Employee, or
Beneficiary who, at any time during the Plan Year or during any of the four
preceding Plan Years, is or was (i) an officer of the Employer or a Related
Company whose annual Section 415 Compensation from the Employer and Related
Companies exceeds 50% of the amount in effect under Code Section 415(b)(1)(A)
for the Plan Year, (ii) one of the ten employees who owns (or is considered as
owning, within the meaning of Code Section 318) at least 0.5% and the largest
interests in the Employer or a Related Company and whose annual section 415
Compensation from the Employer and Related Companies exceeds $30,000 (or the
amount in effect under Code Section 415(c)(1)(A) for the Plan Year, (iii) a 5%
owner of the Employer or a Related Company, or (iv) a 1% owner of the Employer
or a Related Company whose annual section 415 Compensation exceeds $150,000. The
amount in effect under Code Section 415(c)(1)(A) for a Plan Year is the $30,000
amount described in Section 4.3 of the Plan, as adjusted. "Key Employee" shall
also include the Beneficiary of a deceased Key Employee, as described above. The
determination of Key Employee status shall be made in accordance with Code
Section 416(i), and the number of persons who are considered Key Employees shall
be limited as provided under that Section. A "non-Key Employee" is an Employee
or former Employee who is not a Key Employee.

               12.2  Minimum Allocation. A minimum benefit or a minimum
contribution shall be provided for each Participant who is not a Key Employee
and who is not covered by a

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<PAGE>

collective bargaining agreement under which retirement benefits were the subject
of good faith bargaining. Unless the minimum benefit described in Code Section
416(c)(1) is provided under a defined benefit plan, the amount of Employer and
Related Company contributions, Before-Tax Contributions and forfeitures that are
allocated under one or more defined contribution plans maintained by the
Employer or Related Companies to the account of each Participant described above
who is an Employee on the last day of the Plan Year shall be at least equal to
the lesser of (a) 3% of the Participant's section 415 Compensation or (b) the
percentage of the Participant's section 415 Compensation that is equal to the
highest percentage of section 415 Compensation at which Employer and Related
Company contributions, Before-Tax Contributions and forfeitures are allocated to
a Key Employee's account for the Plan Year. This minimum contribution shall be
made under other plans maintained by the Employer or Related Companies before it
is made under this Plan. The Employer shall have discretion to contribute any
additional amount needed to satisfy this minimum allocation.

               12.3  Compensation Limitation. The amount of a Participant's
Compensation that may be taken into account under the Plan for the Plan Year
shall not exceed $150,000 (or an adjusted amount pursuant to Code Sections
401(a)(17) and 415(d)).

               12.4  Benefit and Contribution Limitations. The 1.25 amount in
Section 4.4 of the Plan shall be changed to 1.0 unless:

               (a)   the sum of the present value of accrued benefits and
account balances of Key Employees under plans aggregated pursuant to Section
12.1(a) does not exceed 90% of the total present value of accrued benefits and
account balances of all participants in the plans, and

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<PAGE>

               (b) the minimum contribution described in Section 12.2 of the
Plan is increased to 7 1/2% of the Participant's Section 415 Compensation.

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                                  SECTION XIII

                                  MISCELLANEOUS

               13.1  Costs of Administration. Any reasonable expense that is
paid or incurred by the Company or by the Trust Fund during a Plan Year in
connection with maintaining and administering the Plan, including compensation
and other expenses and charges of any counsel, accountant, specialist or other
person who shall be employed by the Committee in connection with the
administration thereof, shall be paid from the Trust Fund unless it is paid by
the Company.

               13.2  Charges for Account Transactions. Brokerage commissions,
transfer taxes, and other charges and expenses in connection with the purchase
and sale of Company Stock or the sale of other securities shall be added to the
cost of the Company Stock or securities or deducted from the proceeds, as the
case may be. There shall be no commission on transactions with the Company in
Company Stock or in cases where purchases and sales are matched.

               13.3  Exclusive Benefit Rule. This Plan shall be administered for
the exclusive benefit of the Employees of an Employer and for the payment to
Participants out of the income and principal of the Trust Fund of the benefits
provided under the Plan. No part of the income or principal of the Trust Fund
shall be used for or diverted to purposes other than the exclusive benefit of
the Participants or their Beneficiaries, as provided in the Plan.

               13.4  Merger. In the event of any merger or consolidation of the
Plan with, or transfer of assets or liabilities to, any other plan, each
Participant shall be entitled to a benefit under such other plan immediately
after the merger, consolidation, or transfer that is equal to or

                                       98

<PAGE>

greater than his Account balance determined under this Plan immediately before
the merger, consolidation or transfer.

               13.5  No Right to the Fund. No person shall have any interest in,
or right to, any part of the assets of the Trust Fund or any rights under the
Plan, except as to the extent expressly provided in the Plan.

               13.6  No Contract of Employment. Nothing contained in the Plan
shall be construed as a contract of employment between the Company and any
person, or as giving a right to any person to continue in the employment of an
Employer, or as limiting the right of an Employer to discharge any person at any
time, with or without cause.

               13.7  Non-Alienation of Benefits. No person shall have any
interest in or right to any assets of the Trust Fund or any rights under the
Plan except to the extent expressly provided in the Plan. Benefits payable under
the Plan shall not be subject in any manner to anticipation, alienation, sale,
transfer, assignment, pledge, encumbrance, charge, garnishment, execution, or
levy of any kind, either voluntary or involuntary, including any liability for
alimony or other payments for the support of a spouse, former spouse, or for any
other relative of a Participant or Beneficiary, before actually being received
by the person entitled thereto under the terms of the Plan. Any attempt to
anticipate, alienate, sell, transfer, assign, pledge, encumber, charge or
otherwise dispose of any right to benefits payable under the Plan shall be void.
The Trust Fund shall not in any manner be liable for, or subject to, the debts,
contracts, liabilities, or torts of any person entitled to benefits hereunder.

               13.8  Construction and Severability. The Plan shall be
administered in accordance with ERISA and, to the extent not preempted thereby,
by the laws of the

                                       99

<PAGE>

Commonwealth of Virginia. Each provision of this Plan shall be considered to be
severable from all other provisions so that if any provision or any part of a
provision shall be declared void, then the remaining provisions of the Plan that
are not declared void shall continue to be effective.

               13.9  Delegation of Authority. Whenever the Employer, under the
terms of this Plan, is permitted or required to do or perform any act, the act
may be done or performed by any officer of the Employer, and such officer shall
be presumed to be duly authorized by the Board.

               13.10 Request for Tax Ruling. This Plan is based upon the
condition precedent that it shall meet the requirements of the Code with respect
to qualified employees' trusts so as to permit the Employer to deduct for
federal income tax purposes the amounts of its contributions and so that its
contributions will not be taxable to the Participants as income in the year in
which the contributions are made. The Employer shall apply for a determination
by the Internal Revenue Service that this Plan is so qualified.

               13.11 Changes in Capital Structure. The existence of the Plan
shall not limit or in any way affect the right of any Employer to change its
capital structure or accounting practices at any time in whatever manner it may
determine to be advisable.

               13.12 Receipt of Rollovers and Trustee-to-Trustee Transfers.

               (a)   Subject to rules established by the Committee, the Trustee
may receive a transfer of assets previously held under another tax-qualified
plan for the benefit of any person employed by the Company. Unless the Committee
determines otherwise, assets that are subject to the annuity requirements of
Code Section 417 may not be transferred to the Plan. Transferred assets may be
received directly from the trustee of a tax-qualified plan, or they may be
received

                                      100

<PAGE>

as a rollover contribution from a tax-qualified plan or from an individual
retirement account. Any plan from which assets are received must be a plan
qualified under Code Section 401 at the time of the transfer, and any rollover
individual retirement account must be an individual retirement account within
the meaning of Code Section 408(d)(3)(A)(ii) at the time of the rollover.

         (b) The Trustee shall invest the transferred assets as part of the
Trust Fund. The transferred assets, and the earnings and losses attributable to
them, shall be held in the person's Rollover Account unless the Committee
provides otherwise.

         (c) The Committee and the Trustee shall be fully protected in relying
on data, representations, or other information provided by a Participant or
other Employee for the purpose of determining that the requirements of
Subsection (a) have been satisfied.

         (d) All references to Participants in Sections 4.1(e), 5 (other than
Section 5.14), 8, and 9.3 shall be deemed to refer also to any person who is not
a Participant and who has an amount transferred to this Plan on his behalf in
accordance with Subsection (a).

         13.13 Plan Merger. The Committee may direct that one or more other
defined contribution plans maintained by an Employer be merged into this Plan.
In the event of such a merger, the Committee shall designate the Accounts to
which each Participant's accounts from the prior plan shall be allocated.

         13.14 Gender and Number. Every pronoun used in the Plan shall be
construed to be of such number and gender as the context shall require.

                                      101

<PAGE>

                                   APPENDIX A

                  Subject and pursuant to Section 3.10(b), the Employer shall as
soon as practicable following the end of each calendar quarter allocate to the
Employer Profit-Sharing Contributions Account of each Participant listed below
the amount shown, provided that the Participant was an Employee (other than an
Ineligible Employee) on the last day of such calendar quarter and was not an
Ineligible Employee, expressed as a percentage of the Participant's Compensation
paid with respect to the period during such calendar quarter that the person was
a Participant:

        ========================================================================
        NAME                                                        PERCENTAGE
        ------------------------------------------------------------------------
        Charles B. Atkins                                              1.44%
        ------------------------------------------------------------------------
        Shirley J. Ayers                                               1.11%
        ------------------------------------------------------------------------
        Frances L. Barksdale                                           0.71%
        ------------------------------------------------------------------------
        Judith E. Basham                                               0.72%
        ------------------------------------------------------------------------
        Dale P. Bateman                                                1.16%
        ------------------------------------------------------------------------
        Patricia L. Bias                                               0.53%
        ------------------------------------------------------------------------
        Michael N. Blacker                                             0.64%
        ------------------------------------------------------------------------
        Katie P. Blanchard                                             3.06%
        ------------------------------------------------------------------------
        Linda D. Blusiewicz                                            0.71%
        ------------------------------------------------------------------------
        Nancy W. Bollinger                                             0.56%
        ------------------------------------------------------------------------
        Barbara A. Bonwell                                             1.81%
        ------------------------------------------------------------------------
        Monica C. Bowling                                              1.39%
        ------------------------------------------------------------------------
        Deborah L. Bradley                                             0.68%
        ------------------------------------------------------------------------
        Jacqueline M. Bridges                                          2.37%
        ------------------------------------------------------------------------
        Joseph E. Buchanan, Jr.                                        0.65%
        ------------------------------------------------------------------------
        Ann  Burroughs                                                 2.92%
        ------------------------------------------------------------------------
        Sheila J. Caudle                                               0.60%
        ------------------------------------------------------------------------
        M. Wray Clarke                                                 1.72%
        ------------------------------------------------------------------------
        Madeline R. Colavito                                           2.23%
        ------------------------------------------------------------------------
        Gloria J. Cook                                                 0.86%
        ------------------------------------------------------------------------
        Arthur T. Cozart                                               0.70%
        ------------------------------------------------------------------------
        Catherine A. Cuervo                                            4.05%
        ------------------------------------------------------------------------
        Betty R. Daniels                                               0.69%
        ------------------------------------------------------------------------
        Floyd N. Davis, Jr.                                            0.64%
        ------------------------------------------------------------------------
        Jeannie C. Dudley                                              0.42%
        ------------------------------------------------------------------------
        Harriett Elzy                                                  0.76%
        ------------------------------------------------------------------------

                                      A-1

<PAGE>

        ------------------------------------------------------------------------
        Joan P. Farina                                           2.06%
        ------------------------------------------------------------------------
        Thomas W. Foster                                         1.39%
        ------------------------------------------------------------------------
        Ruth A. Galaspie                                         7.36%
        ------------------------------------------------------------------------
        Gail Gelblicht                                           1.88%
        ------------------------------------------------------------------------
        George E. Giannone                                       0.40%
        ------------------------------------------------------------------------
        Delton E. Hairfield                                      6.63%
        ------------------------------------------------------------------------
        Jack W. Herndon                                          0.58%
        ------------------------------------------------------------------------
        William D. Hudgins, Jr.                                  0.40%
        ------------------------------------------------------------------------
        Linda G. Hultgren                                        0.57%
        ------------------------------------------------------------------------
        Marilyn A. Jeffrey                                       1.87%
        ------------------------------------------------------------------------
        Judith G. Johnson                                        1.85%
        ------------------------------------------------------------------------
        Diane W. Jones                                           0.79%
        ------------------------------------------------------------------------
        Patrick A. Kirby                                         0.80%
        ------------------------------------------------------------------------
        Milton W. Lampkin                                        0.69%
        ------------------------------------------------------------------------
        Marsha A. Lee                                            0.59%
        ------------------------------------------------------------------------
        Joyce A. Lewis                                           2.02%
        ------------------------------------------------------------------------
        Carolyn L. Lightfoot                                     0.44%
        ------------------------------------------------------------------------
        Cynthia S. Linthicum                                     0.90%
        ------------------------------------------------------------------------
        Elizabeth P. Maclachlan                                  5.45%
        ------------------------------------------------------------------------
        Phillip C. Mason                                         0.70%
        ------------------------------------------------------------------------
        Thelma L.R. Matthews                                     0.54%
        ------------------------------------------------------------------------
        Judy A. Mays                                             1.67%
        ------------------------------------------------------------------------
        Charlotte N. McCowin                                     0.61%
        ------------------------------------------------------------------------
        Harry F. McDermott                                       0.65%
        ------------------------------------------------------------------------
        Carolyn S. Merkel                                        0.97%
        ------------------------------------------------------------------------
        Gloria D. Miller                                         0.61%
        ------------------------------------------------------------------------
        Joan D. Miller                                           0.81%
        ------------------------------------------------------------------------
        John C. Moffatt                                          4.11%
        ------------------------------------------------------------------------
        Clara W. Moore                                           0.59%
        ------------------------------------------------------------------------
        Judith K. Moore                                          2.47%
        ------------------------------------------------------------------------
        Gay T. Moravec                                           0.59%
        ------------------------------------------------------------------------
        Gaynelle L. Morris                                       0.61%
        ------------------------------------------------------------------------
        Linwood B. Muire, Jr.                                    0.77%
        ------------------------------------------------------------------------
        Patricia Nelson                                          0.59%
        ------------------------------------------------------------------------
        Ray M. Nevel                                             1.78%
        ------------------------------------------------------------------------
        James C. Osborne                                         2.04%
        ------------------------------------------------------------------------
        Robert B. Purcell, Jr.                                   3.93%
        ------------------------------------------------------------------------
        Linda S. Puryear                                         0.76%
        ------------------------------------------------------------------------
        Connie W. Reese                                          0.53%
        ------------------------------------------------------------------------
        Barbara M. Reynolds                                      3.98%
        ------------------------------------------------------------------------
        Eloise Riggin                                            1.93%
        ------------------------------------------------------------------------
        Brenda C. Roberts                                        4.09%
        ------------------------------------------------------------------------
        Linda H. Roberts                                         0.80%
        ------------------------------------------------------------------------
        Nancy H. Roberts                                         0.98%
        ------------------------------------------------------------------------

                                       A-2

<PAGE>

        ------------------------------------------------------------------------
        Keith D. Robinson                                         5.13%
        ------------------------------------------------------------------------
        Phillip B. Rose                                           4.23%
        ------------------------------------------------------------------------
        Gail K. Scott                                             3.64%
        ------------------------------------------------------------------------
        Helen F. Scrase                                           1.62%
        ------------------------------------------------------------------------
        Jennifer K. Seaman                                        2.27%
        ------------------------------------------------------------------------
        Palmer B. Sehlhorst                                       2.12%
        ------------------------------------------------------------------------
        Ellen S. Simpson                                          0.70%
        ------------------------------------------------------------------------
        William L. Sledd, Jr.                                     4.35%
        ------------------------------------------------------------------------
        Sharon E. Smith                                           0.49%
        ------------------------------------------------------------------------
        Carol K. Southward                                        0.39%
        ------------------------------------------------------------------------
        Peggy H. Spiller                                          0.84%
        ------------------------------------------------------------------------
        Joanne G. Taylor                                          0.73%
        ------------------------------------------------------------------------
        John C. Thompson                                          4.18%
        ------------------------------------------------------------------------
        Geraldine I. Umphlet                                      6.62%
        ------------------------------------------------------------------------
        Nancy H. Vail                                             1.57%
        ------------------------------------------------------------------------
        Betty L. Waller                                           0.63%
        ------------------------------------------------------------------------
        Nancy A. Webb                                             4.35%
        ------------------------------------------------------------------------
        I. Annalee  White                                         7.44%
        ------------------------------------------------------------------------
        Ruth A. White                                             2.05%
        ------------------------------------------------------------------------
        Ora E. Wilkins                                            1.99%
        ------------------------------------------------------------------------
        Beverly A. Williams                                       0.66%
        ------------------------------------------------------------------------
        Wayne H. Wood                                             0.73%
        ------------------------------------------------------------------------
        Thomas E. Yeager                                          0.60%
        ========================================================================

                                      A-3

<PAGE>

                                   SCHEDULE I

               SPECIAL PROVISIONS RELATING TO CERTAIN EMPLOYEES OF
                          SUMMIT ACCEPTANCE CORPORATION

                  I.01     Introduction

                           Pursuant to resolutions enacted by the Board and the
Board of Directors of Summit Acceptance Corporation ("Summit"), Summit shall
become an Employer effective January 1, 1999. Each individual who, on December
31, 1998, was a participant in the Summit 401(k) Savings Plan (the "Summit
Plan") (collectively, the "Summit Participants" and individually, a "Summit
Participant") shall become a Participant effective January 1, 1999 (the
"Effective Date") in accordance with Section II of the Plan and this Schedule I.
On or as soon after the Effective Date as practicable, the accounts maintained
under the Summit Plan on behalf of Summit Participants (the "Summit Accounts")
shall be transferred to the Plan. This Schedule I prescribes the treatment under
the Plan of the Summit Participants and other employees of Summit. The rights of
the Summit Participants and other employees of Summit shall be governed by the
terms of the Plan as set forth in Sections I through XIII of the Plan, except to
the extent that such terms are inconsistent with this Schedule I.

                  I.02     Participation in the Plan

                  (a)      Every Summit Participant shall become a Participant
on the Effective Date.

                  (b)      Every Employee who was an employee of Summit on
December 31, 1998, and whose employment commencement date with Summit was before
October 1, 1998, shall become a Participant on the Effective Date, provided he
is not an Ineligible Employee on the Effective Date.

                                      A-4

<PAGE>

          (c)  Each Employee of Summit who does not become a Participant in
accordance with Subsection (a) or (b) above shall become a Participant in
accordance with the provisions of Section II of the Plan. With respect to any
employee of Summit, the Plan shall credit as Service for eligibility purposes
all service that is credited to the Employee for eligibility purposes under the
Summit Plan as of December 31, 1998.

          I.03 Contributions

          (a)  A Summit Participant may file an election to have Before-Tax
Contributions and/or After-Tax Contributions made on his behalf to the Plan
effective as of the Effective Date. Such election shall be filed in the form and
manner and at the time established by the Committee. If a Summit Participant
does not file an election as provided in the preceding sentence, Before-Tax
Contributions shall be made on his behalf to the Plan in accordance with the
Summit Participant's election under Section 3.01 of the Summit Plan with respect
to Elective Deferral Contributions (as defined in Section 1.02 of the Summit
Plan) and After-Tax Contributions shall be made on his behalf to the Plan in
accordance with his elections under Section 3.02 of the Summit Plan with respect
to Voluntary Contributions (as defined in Section 1.02 of the Summit Plan), both
as in effect on December 31, 1998.

          (b)  At the time a Summit Participant files a new contribution
election pursuant to Subsection (a) above, the Summit Participant shall
designate the Investment Funds in which the contributions made on his behalf to
the Plan are to be invested. To the extent a Summit Participant fails to make
such a designation with respect to contributions that are made on his behalf to
the Plan after the Effective Date and until the Summit Participant directs
otherwise in accordance with Section 8.1 of the Plan, such contributions shall
be invested in the

                                      A-5

<PAGE>

Investment Fund corresponding (pursuant to the rules set forth in Section I.07
below) to the applicable investment option designated by the Summit Participant
under the Summit Plan.

          I.04 Vesting

          (a)  The vesting provisions of the Plan shall apply to a Summit
Participant's entire benefit under the Plan, including the Summit Accounts and
any Employer Matching Contributions and Profit Sharing Contributions that are
made to the Plan after the Effective Date on behalf of the Summit Participant;
provided that in no event shall a Summit Participant's vested percentage in his
Summit Accounts after their transfer to the Plan be less than his vested
percentage in his Summit Accounts under the Summit Plan as of December 31, 1998.

          (b)  With respect to any Employee of Summit, the Plan shall credit as
Vesting Service under the Plan all service that is credited to the Employee for
vesting purposes under the Summit Plan as of December 31, 1998.

          I.05 Loans

          The promissory notes reflecting outstanding loans made under Section
5.06 of the Summit Plan shall be transferred to the Trustee. On and after the
Effective Date, any payments due under these promissory notes shall be made to
the Trustee according to the existing amortization schedules and subject to the
conditions set forth in the promissory notes and Section 5.14 of the Plan.

          I.06 Optional Forms of Benefit

          (a)  Any optional forms of benefit (within the meaning of Code Section
411(d)(6)) that are available under the Summit Plan with respect to a Summit
Participant's Summit Accounts shall continue to be available under the Plan, but
only with respect to the

                                      A-6

<PAGE>

Summit Participant's Summit Accounts. Appendix I.A to this Schedule I sets forth
the optional forms of benefit that are applicable to a Summit Participant's
Summit Accounts under the Plan.

          (b)  A Summit Participant's Summit Accounts shall be separately
accounted for under the Plan and any requirements imposed by Code Sections
401(a)(11) and 417, as of December 31, 1998, with respect to the Summit
Participant's Summit Accounts shall continue to apply to such Summit Accounts
following the transfer to the Plan.

          (c)  Except as provided in Subsections (a) and (b) above, a Summit
Participant shall receive his entire benefit under the Plan in accordance with
the provisions of Section V of the Plan.

          I.07 Treatment Under the Plan of a Summit Participant's Summit
Accounts

          (a)  On the Effective Date, or as soon as practicable thereafter, the
Plan shall accept a direct trustee-to-trustee transfer of the Summit
Participants' Summit Accounts from the Summit Plan and the assets related
thereto, provided that the transfer is effected in accordance with Code Sections
401(a)(12) and 414(l) and the regulations thereunder.

          (b)  Upon transfer to the Plan, a Summit Participant's Summit
Account(s), as of the date of transfer, shall be accorded the following
treatment under the Plan, except as otherwise specifically provided in this
Schedule I:

               (1)  The balance of the Summit Participant's Voluntary
     Contribution Account in the Summit Plan shall be (i) transferred to the
     Summit Participant's Account, (ii) accounted for as After-Tax
     Contributions, and (iii) treated in the same manner as After-Tax
     Contributions.

               (2)  The balance of the Summit Participant's Elective Deferral
     Contribution Account in the Summit Plan shall be (i) transferred to the
     Summit

                                       A-7

<PAGE>

     Participant's Account, (ii) accounted for as Before-Tax Contributions, and
     (iii) treated in the same manner as Before-Tax Contributions.

               (3)  The balance of the Summit Participant's Rollover
     Contribution Account in the Summit Plan shall be (i) transferred to the
     Summit Participant's Account, (ii) accounted for as Rollover Contributions,
     and (iii) treated in the same manner as Rollover Contributions.

               (4)  The balance of the Summit Participant's Matching
     Contributions Account in the Summit Plan shall be (i) transferred to the
     Summit Participant's Account, (ii) accounted for as Employer Matching
     Contributions, and (iii) treated in the same manner as Employer Matching
     Contributions.

               (5)  The balance of the Summit Participant's Discretionary
     Contribution Account in the Summit Plan shall be (i) transferred to the
     Summit Participant's Account, (ii) accounted for as Profit Sharing
     Contributions, and (iii) treated in the same manner as Profit Sharing
     Contributions.

          (c)  A Summit Participant's Summit Accounts, upon transfer to the
Plan, shall be invested in one or more Investment Funds available under the Plan
in accordance with the Summit Participant's investment election with respect to
his Summit Accounts, provided that if the Summit Participant has not made an
investment election with respect to his Summit Accounts as of the date of his
transfer, his Summit Accounts shall be invested as follows, or in such other
manner as the Committee, in its sole discretion, shall determine, until the
Summit Participant elects to transfer such amounts in accordance with Section
8.2 of the Plan:

               (1)  Amounts invested in the Small Company Blend Account under
     the Summit Plan shall be transferred to the Baron Asset Fund under the
     Plan;

                                      A-8

<PAGE>

               (2)  Amounts invested in the International Stock Fund under the
     Summit Plan shall be transferred to the Templeton Foreign Fund under the
     Plan;

               (3)  Amounts invested in the International Emerging Markets Fund
     under the Summit Plan shall be transferred to the Templeton Foreign Fund
     under the Plan;

               (4)  Amounts invested in the Medium Company Value Fund under the
     Summit Plan shall be transferred to the Davis NY Venture Fund (Class A)
     under the Plan;

               (5)  Amounts invested in the Large Company Blend Fund under the
     Summit Plan shall be transferred to the IDS Stock Fund (Y) under the Plan;

               (6)  Amounts invested in the Stock Index 500 Fund under the
     Summit Plan shall be invested in the American Express Trust Equity Index
     Fund II under the Plan;

               (7)  Amounts invested in the Large Company Growth Fund under the
     Summit Plan shall be invested in the American Express Trust Equity Index
     Fund II under the Plan;

               (8)  Amounts invested in the US Stock Account under the Summit
     Plan shall be invested in the IDS Stock Fund (Y) under the Plan;

               (9)  Amounts invested in the Stock Emphasis Balanced Fund under
     the Summit Plan shall be invested in the IDS Mutual Fund (Y) under the
     Plan;

               (10) Amounts invested in the Government Securities Fund under the
     Summit Plan shall be invested in the IDS Federal Income Fund (Y) under the
     Plan; and

                                      A-9

<PAGE>

                       (11) Amounts invested in the Guaranteed Income Contracts
         Fund under the Summit Plan shall be invested in the American Express
         Trust Money Market Fund II under the Plan.

                           APPENDIX I.A TO SCHEDULE I

                  (a)  The following additional termination distribution forms
(for distributions not on account of death) are available with respect to a
Summit Participant's Summit Accounts:

                  .    Lump sum

                  .    Single life annuity

                  .    Joint and survivor annuity with installment refund, with
                       survivor percentages of 50%, 66-2/3%, or 100%

                  .    Single life annuity with period certain of either 5, 10,
                       or 15 years

                  .    Single life annuity with installment refund

                  .    Fixed period annuities for any period of whole months not
                       less than 60, but not in excess of the Summit
                       Participant's and beneficiary's joint life expectancy
                       (without recalculation)

                  .    Installments beginning by April 1 of the year following
                       the year in which the Summit Participant attains age 70
                       1/2 and continuing each December 31/st/ thereafter in a
                       minimum amount based on the Summit Participant's and his
                       spouse's joint life expectancy (with recalculation), with
                       payment on the Summit Participant's death to his
                       beneficiary in a lump sum

                  (b)  The following additional termination distribution forms
(for distributions on account of death) are available with respect to a Summit
Participant's Summit Accounts:

                                      A-110

<PAGE>

                  .    In the case of a Summit Participant who was married
                       continuously throughout the one-year period ending on his
                       death, a life annuity, with installment refund, payable
                       to the Summit Participant's surviving spouse

                  .    Any annuity that is an optional distribution form
                       described in Subsection (a) above, provided that a series
                       of installments shall not be available unless the
                       beneficiary is the Summit Participant's surviving spouse

                  (c)  The following additional in-service withdrawal form is
available with respect to a Summit Participant's Summit Accounts:

                  .    A Summit Participant who attains age 59 1/2 may elect to
                       withdraw amounts attributable to Matching Contributions
                       and Discretionary Contributions

                                      A-111

<PAGE>

                  IN WITNESS WHEREOF, Capital One Financial Corporation hereby
adopts the Capital One Financial Corporation Associate Savings Plan, and has
caused this plan to be executed by its duly authorized officer this 21st day
of June, 2002.

                                           CAPITAL ONE FINANCIAL
                                           CORPORATION

                                           By: /s/ John G. Finneran, Jr.
                                               --------------------------------
                                           Name: John Finneran

                                           Title: General Counsel and Corporate
                                                  Secretary

Attest:

Mary Ann Gallo
----------------------------------------<PAGE>

                                                                    Exhibit 10.4

                                    [GRAPHIC]

                         AUTOEXOTICA INTERNATIONAL, LTD.
                Post Office Box 621 Livingston, New Jersey 07039
                    (201) 437-6238 Phone (201) 437-4420 Fax
                            E-mail: EXOTORENT@AOL.COM
                           www.autoexoticarentals.com

                       Amendment to Cooperative Agreement

Private Retreats, LLC and Autoexotica International, Ltd. hereby amend the
Cooperative Agreement Dated August 1, 2001, to remove the references to a
Marketing Agreement and the future issuance of Warrants.

/s/ Robert L. McGrath
---------------------------------------------------
Robert L. McGrath, President, Private Retreats, LLC

/s/ Darryl Nowak
--------------------------------------------------------
Darryl Nowak, President, AutoExotica International, Ltd.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}]]