Document:

<PAGE>

                                                                   Exhibit 4.5.5

                                 [Face of Note]

UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR THE INDIVIDUAL
SECURITIES REPRESENTED HEREBY, THIS GLOBAL SECURITY MAY NOT BE TRANSFERRED
EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY OR ANY SUCCESSOR DEPOSITARY
APPOINTED AS SUCH PURSUANT TO THE SENIOR INDENTURE (THE "DEPOSITARY") TO A
NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR
ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO
SUCH A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS
THIS GLOBAL SECURITY IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY SECURITY ISSUED IS REGISTERED IN THE NAME OF THE DEPOSITARY OR
ITS NOMINEE OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF THE DEPOSITARY AND ANY PAYMENT IS MADE TO THE DEPOSITARY OR ITS NOMINEE, ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF HAS AN INTEREST HEREIN.

CUSIP No. 14040HAF2
No. R-001                                                          $300,000,000

                        CAPITAL ONE FINANCIAL CORPORATION

                         8 3/4% NOTES DUE FEBRUARY 1, 2007

               Capital One Financial Corporation, a corporation duly organized
and existing under the laws of Delaware (the "Company"), for value received,
hereby promises to pay to Cede & Co. or registered assigns the principal sum of
THREE HUNDRED MILLION United States Dollars at the Company's office or agency
for said purpose in the Borough of Manhattan, The City of New York, on February
1, 2007 in such coin or currency of the United States of America as at the time
of payment shall be legal tender for the payment of public and private debts,
and to pay interest semi-annually in arrears on February 1 and August 1 of each
year (each an "interest payment date"), commencing August 1, 2002, on said
principal sum in like coin or currency at the rate per annum set forth above at
said office or agency from January 30, 2002 or from the most recent February 1
or August 1, as the case may be, to which interest on the Securities has been
paid or duly provided for, until payment of said principal sum has been made or
duly provided for; provided that, unless this Security is a Security issued in
                   --------
global form (a "Global Security"), interest may be paid, at the option of the
company, by mailing a check therefor payable to the Holder entitled thereto at
his last address as it appears on the Security Register. The interest so payable
will be paid to the Person in whose name this Global Security (or one or more
Predecessor Securities) is registered at the close of business on the January 15
or July 15, as the case may be, next preceding such interest payment date,
unless the Company shall default in the payment of interest due on such interest
payment date after taking into account any applicable grace period, in which
case such defaulted interest shall be paid as set forth in the

<PAGE>

                                                                               2

Senior Indenture. Notwithstanding the foregoing, as long as this Security is a
Global Security, the Company shall pay or cause to be paid the principal of, and
interest on, this Security to the Holder hereof or a single nominee of the
Holder, or, at the option of the Company, to such other Persons as the Holder
hereof may designate, by wire transfer of immediately available funds on the
date such payments are due.

           Reference is made to the further provisions set forth on the reverse
hereof, including the definitions of certain capitalized terms. Such further
provisions shall for all purposes have the same effect as though fully set forth
at this place.

           This Security shall not be valid or obligatory until the certificate
of authentication hereon shall have been duly signed by the Trustee acting under
the Senior Indenture.

<PAGE>

                                                                               3

           IN WITNESS WHEREOF, the Company has caused this instrument to be duly
executed.

Dated:  January 30, 2002

                                              CAPITAL ONE FINANCIAL CORPORATION

                                              By: _____________________________
                                                  Name:
                                                  Title:

[CORPORATE SEAL]                              Attest By: ______________________
                                                         Name:
                                                         Title:

<PAGE>

                                                                               4

                     TRUSTEE'S CERTIFICATE OF AUTHENTICATION

           This is one of the Securities issued under the within-mentioned
Senior Indenture.

Dated:  January 30, 2002

                                                     BNY MIDWEST TRUST COMPANY,
                                                     as Trustee

                                                     By:_______________________
                                                           Authorized Officer

<PAGE>

                                [Reverse of Note]

                        Capital One Financial Corporation

                         8 3/4% Notes Due February 1, 2007

                  This Security is one of a duly authorized issue of debt
securities of the Company, of the series hereinafter specified, all issued or to
be issued under an Indenture, dated as of November 1, 1996 (the "Senior
Indenture"), and duly executed and delivered by the Company to BNY Midwest Trust
Company, as successor to Harris Trust and Savings Bank, as trustee (hereinafter,
the "Trustee"), to which reference to the Senior Indenture is hereby made for a
description of the respective rights and duties thereunder of the Trustee, the
Company and the Holders of the Securities. This Security is one of a series
designated as the "8 3/4 % Notes Due February 1, 2007" of the Company
(hereinafter called the "Notes"), issued under the Senior Indenture.

                  Neither the Senior Indenture nor the Notes limit or otherwise
restrict the amount of indebtedness which may be incurred or other securities
which may be issued by the Company. The Notes issued under the Senior Indenture
are direct, unsecured obligations of the Company and will mature on February 1,
2007. The Notes rank on parity with all other unsecured, unsubordinated
indebtedness of the Company.

                  The Notes will bear interest at the rate of 8 3/4% per annum.

                  The Notes are not redeemable prior to maturity.

                  The Notes are not entitled to any sinking fund.

                  In case an Event of Default shall have occurred and be
continuing with respect to the Notes, the principal hereof may be declared, and
upon such declaration shall become, due and payable, in the manner, with the
effect and subject to the conditions provided in the Senior Indenture. The
Senior Indenture provides that in certain circumstances such declaration and its
consequences may be waived by the Holders of a majority in aggregate principal
amount of the Notes then Outstanding. However, any such consent or waiver by the
Holder shall not affect any subsequent default or impair any right consequent
thereon.

                  The Senior Indenture permits the Company and the Trustee,
without the consent of the Holders of the Notes for certain situations and with
the consent of not less than two-thirds of the Holders in aggregate principal
amount of the Outstanding Notes in other situations, to execute supplemental
indentures adding to, modifying or changing various provisions to the Senior
Indenture; provided that no such supplemental indenture, without the consent of
           --------
the Holder of each Outstanding Note affected thereby, shall (i) change the
Stated Maturity of the principal of, or any installment of interest on, the
Notes, or reduce the principal amount thereof or the interest thereon, or change
the place or currency of payment of principal of, or interest on, the Notes, or
impair the right to institute suit for the enforcement of any payment on or
after the Stated Maturity thereof, or change the Company's obligation to pay
additional amounts (except as otherwise contemplated in the Senior Indenture);
(ii) reduce the percentage in principal amount of the Outstanding Notes, the
consent of whose Holders is required for any such

<PAGE>

                                                                               2

supplemental indenture, or the consent of whose Holders is required for any
waiver (of compliance with certain provisions of the Senior Indenture or certain
defaults hereunder and their consequences) provided for in the Senior Indenture;
or (iii) modify any of the provisions of Sections 902, 513 or 1008 of the Senior
Indenture, except to increase any such percentage or provide that certain other
provisions of the Senior Indenture cannot be modified or waived without the
consent of the Holder of each Outstanding Note affected thereby.

                  The Company may omit in any particular instance to comply with
any term, provision or condition set forth in Section 1005, 1006 or 1007 of the
Senior Indenture, if before the time for such compliance, the Holders of at
least a majority in principal amount of the Outstanding Notes, by act of such
Holders, either shall waive such compliance in such instance or generally shall
have waived compliance with such term, provision or condition, but no such
waiver shall extend to or affect such term, provision or condition except to the
extent so expressly waived, and, until such waiver shall become effective, the
obligations of the Company and the duties of the Trustee in respect of any such
term, provision or condition shall remain in full force and effect.

                  No reference herein to the Senior Indenture and no provision
of this Note or of the Senior Indenture shall alter or impair the obligations of
the Company, which are absolute and unconditional, to pay the principal of,
premium, if any, and interest on this Note at the place, at the respective
times, at the rate and in the coin and currency herein prescribed.

                  The Notes are issuable in registered form without coupons in
denominations of $1,000 and any multiple thereof.

                  At the office or agency of the Company referred to on the face
hereof and in the manner and subject to the limitations provided in the Senior
Indenture, the Notes may be exchanged for a like aggregate principal amount of
Notes of other authorized denominations.

                  Upon due presentment for registration of transfer of the Notes
at the above-mentioned office or agency of the Company, a new Note or Notes of
authorized denominations, for a like aggregate principal amount, will be issued
to the transferee as provided in the Senior Indenture. No service charge shall
be made for any such transfer, but the Company may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto.

                  Prior to due presentation of this Note for registration of
transfer, the Company, the Trustee, and any authorized agent of the Company or
the Trustee, may deem and treat the Holder hereof as the absolute owner of the
Note (whether or not any payment with respect to this Note shall be overdue),
for the purpose of receiving payment of, or on account of, the principal hereof
and, subject to the provisions on the face hereof, interest hereon and for all
other purposes, and neither the Company nor the Trustee nor any authorized agent
of the Company or the Trustee shall be affected by any notice to the contrary.

                  No recourse shall be had for the payment of the principal of,
or the interest on, this Note, for any claim based hereon, or otherwise in
respect hereof, or based on or in respect of the Senior Indenture or any
indenture supplemental thereto, against any incorporator,

<PAGE>

                                                                               3

shareholder, officer or director, as such, past, present or future, of the
Company or of any successor corporation, either directly or through the Company
or any successor corporation, whether by virtue of any constitution, statute or
rule of law or by the enforcement of any assessment or penalty or otherwise, all
such liability being, by the acceptance hereof and as part of the consideration
for the issue hereof, expressly waived and released.

                  THIS NOTE SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS
                  --------------------------------------------------------------
OF THE STATE OF NEW YORK, AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE
-------------------------------------------------------------------------------
WITH THE LAWS OF SAID STATE.
---------------------------

                  All terms used in this Note (and not otherwise defined in this
Note) that are defined in the Senior Indenture shall have the meanings assigned
to them in the Senior Indenture.<PAGE>

                                                                    Exhibit 10.4

                        CAPITAL ONE FINANCIAL CORPORATION

                1999 NON-EMPLOYEE DIRECTORS STOCK INCENTIVE PLAN

                          (As Amended October 18, 2001)

     1. Purpose. The purpose of the Capital One Financial Corporation 1999
Non-Employee Directors Stock Incentive Plan (the "Plan") is to encourage
ownership in the Company by non-employee members of the Board of Directors, in
order to promote long-term shareholder value and to provide non-employee members
of the Board with an incentive to continue as directors of the Company.

     2. Definitions. As used in the Plan, the following terms have the meanings
indicated:

        A.     "Board" means the Board of Directors of the Company.

        B.     "Change of Control" means:

               (i) The acquisition by an individual, entity or group (within the
          meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act
          of 1934, as amended (the "Exchange Act")) of beneficial ownership
          (within the meaning of Rule 13d-3 promulgated under the Exchange Act)
          of 20% (or, if such shares are purchased from the Company, 40%) or
          more of either (A) the then outstanding shares of common stock of the
          Company (the "Outstanding Company Common Stock") or (B) the combined
          voting power of the then outstanding voting securities of the Company
          entitled to vote generally in the election of directors (the "Company
          Voting Securities"), provided, however, that any acquisition by (x)
                               --------  -------
          the Company or any of its subsidiaries, or any employee benefit plan
          (or related trust) sponsored or maintained by the Company or any of
          its subsidiaries or (y) any corporation with respect to which,
          immediately following such acquisition, more than 60% of,
          respectively, the then outstanding shares of common stock of such
          corporation and the combined voting power of the then outstanding
          voting securities of such corporation entitled to vote generally in
          the election of directors is then beneficially owned, directly or
          indirectly, by all or substantially all of the individuals and
          entities who were the beneficial owners, respectively, of the
          Outstanding Company Common Stock and Company Voting Securities
          immediately prior to such acquisition in substantially the same
          proportion as their ownership, immediately prior to such acquisition,
          of

<PAGE>

          the Outstanding Company Common Stock and Company Voting Securities, as
          the case may be, shall not constitute a Change of Control; or

               (ii)  Individuals who constituted the Board as of January 1, 1999
          (the "Incumbent Board") cease for any reason to constitute at least a
          majority of the Board, provided that any individual becoming a
          director subsequent to January 1, 1999 whose appointment to fill a
          vacancy or to fill a new Board position or whose nomination for
          election by the Company's shareholders was approved by a vote of at
          least a majority of the directors then comprising the Incumbent Board
          shall be considered as though such individual were a member of the
          Incumbent Board, but excluding, for this purpose, any such individual
          whose initial assumption of office is in connection with an actual or
          threatened election contest relating to the election of the Directors
          of the Company (as such terms are used in Rule 14a-11 of Regulation
          14A promulgated under the Exchange Act); or

               (iii) Approval by the shareholders of the Company of a
          reorganization, merger or consolidation (a "Business Combination"), in
          each case, with respect to which all or substantially all of the
          individuals and entities who were the respective beneficial owners of
          the Outstanding Company Common Stock and Company Voting Securities
          immediately prior to such Business Combination do not in the
          aggregate, immediately following such Business Combination,
          beneficially own, directly or indirectly, more than 60% of,
          respectively, the then outstanding shares of common stock and the
          combined voting power of the then outstanding voting securities
          entitled to vote generally in the election of directors, as the case
          may be, of the corporation resulting from such Business Combination in
          substantially the same proportion as their ownership immediately prior
          to such Business Combination of the Outstanding Company Common Stock
          and Company Voting Securities, as the case may be; or

               (iv)  (A) a complete liquidation or dissolution of the Company
          or (B) sale or other disposition of all or substantially all of the
          assets of the Company other than to a corporation with respect to
          which, immediately following such sale or disposition, more than 60%
          of, respectively, the then outstanding shares of common stock and the
          combined voting power of the then outstanding voting securities
          entitled to vote generally in the election of directors is then
          beneficially owned, directly or indirectly, in the aggregate by all or

                                       2

<PAGE>

          substantially all of the individuals and entities who were the
          beneficial owners, respectively, of the Outstanding Company Common
          Stock and Company Voting Securities immediately prior to such sale or
          disposition in substantially the same proportion as their ownership of
          the Outstanding Company Common Stock and Company Voting Securities, as
          the case may be, immediately prior to such sale or disposition.

          C. "Company" means Capital One Financial Corporation, a Delaware
          corporation, or any successor thereto.

          D. "Company Stock" means Common Stock of the Company or any securities
substituted for Common Stock of the Company pursuant to Section 10.

          E. "Date of Grant" means the date as of which a director is awarded an
Option pursuant to Section 7.

          F. "Disability" means the inability to perform the services to the
Company as a director as determined by the Board, and such determination shall
be conclusive.

          G. "Eligible Director" means a director described in Section 4.

          H. "Fair Market Value" means as of the date for which a value
determination is being made, the average of the Common Stock's highest and
lowest prices on such date as reported on The New York Stock Exchange-Composite
Transactions Tape made (or, if the New York Stock Exchange is not open for
trading on such date, for the last preceding day on which Company Stock was
traded). In the absence of any such sale, fair market value means the average of
the highest bid and lowest asked prices of a share of Company Stock on such date
as reported by such source. In the absence of such average or if shares of
Company Stock are no longer traded on The New York Stock Exchange, the fair
market value shall be determined by the Board using any reasonable method in
good faith.

          I. "IRC" means the Internal Revenue Code of 1986, as amended.

          J. "Option" or "Options" means the right to purchase Company Stock
subject to the terms and conditions set forth in Section 7.

          K. "Subsidiary" means a corporation or other entity more than 50% of
whose voting shares are owned directly or indirectly by the Company.

          3. Administration.

          A. The Board shall administer the Plan. The award of Options under the
Plan shall be as described in Section 7. However, the Board shall have all
powers vested in it by the terms of the Plan, including, without limitation, the
authority (within the limitations described herein) to prescribe the form of the
agreement applicable to evidence the award of Options under

                                        3

<PAGE>

the Plan, to construe the Plan, to determine all questions arising under the
Plan, and to adopt and amend rules and regulations for the administration of the
Plan as it may deem desirable. Any decision of the Board in the administration
of the Plan, as described herein, shall be final and conclusive. The Board may
act only by a majority of its members in office, except that members thereof may
authorize any one or more of their number or any officer of the Company to
execute and deliver documents on behalf of the Board.

     B. The Board shall have general authority to impose any limitation or
condition upon an Option that the Board deems appropriate to achieve the
objectives of the Option and the Plan and, in addition, and without limitation
and in addition to powers set forth elsewhere in the Plan, shall have the power
and complete discretion to determine (a) which Eligible Directors shall receive
an Option and the nature of the Option, (b) the number of shares of Company
Stock to be covered by each Option, (c) the Fair Market Value of Company Stock,
(d) the time or times when an Option shall be granted, (e) whether an Option
shall become vested over a period of time and when it shall be fully vested, (f)
when Options may be exercised, (g) whether a Disability exists, (h) the manner
in which payment will be made upon the exercise of Options, (i) notice
provisions relating to the sale of Company Stock acquired under the Plan, and
(j) any additional requirements relating to Options that the Board deems
appropriate.

     C. No member of the Board shall be liable for any action, omission, or
determination relating to the Plan, and the Company shall indemnify and hold
harmless each member of the Board and each other employee or consultant of the
Company to whom any duty or power relating to the administration or
interpretation of the Plan has been delegated against any cost or expense
(including counsel fees) or liability arising out of any action, omission or
determination relating to the Plan, to the maximum extent permitted by law.

     4. Participation in the Plan. Each director of the Company who is not
otherwise an employee of the Company or any Subsidiary on the Date of Grant of
an Option under the Plan shall be eligible to participate in the Plan.

     5. Stock Subject to the Plan. Subject to Section 10 of the Plan, there
shall be reserved for issuance under the Plan an aggregate of 825,000 shares of
Company Stock, which shall be treasury shares. Shares granted under the Plan
subject to Options that expire or otherwise terminate unexercised may again be
subjected to a grant under the Plan. The Board is expressly authorized to grant
an Option to an optionee conditioned upon the surrender for cancellation of an
existing Option.

                                       4

<PAGE>

     6. Non-Statutory Stock Options. All Options granted under the Plan shall be
non-statutory in nature and shall not be entitled to special tax treatment under
IRC Section 422.

     7. Terms, Conditions and Award of Options. The Board may award Options to
Eligible Directors under this Plan from time to time as it deems appropriate.
Each award of an Option shall be evidenced by written agreement between the
Company and the Eligible Director in such form as the Board shall from time to
time approve, stating the number of shares for which Options are granted, the
Option exercise price per share and the conditions to which the grant and
exercise of the Options are subject.

        A. Option Exercise Price. The Option exercise price shall be the Fair
           ---------------------
Market Value of the shares of Company Stock subject to such Option on the Date
of Grant.

        B. Options Not Transferable. Options, by their terms, shall not be
           ------------------------
transferable by the optionee except by will or by the laws of descent and
distribution and shall be exercisable, during the optionee's lifetime, only by
the optionee or by his guardian or legal representative. An Option transferred
by will or by the laws of descent and distribution may be exercised by the
optionee's personal representative within one year of the date of the optionee's
death to the extent the optionee could have exercised the Option on the date of
his death, but in any event not later than the expiration date of the Option
exercise period. The Board is expressly authorized, in its discretion, to
provide that all or a portion of an Option may be granted to an optionee upon
terms that permit transfer of the Option in a form and manner determined by the
Board. Any person to whom an Option is transferred pursuant to this Section 7
shall agree in writing to be bound by the terms of the Plan and the stock option
agreement for such Option as if such transferee had been an original signatory
thereto, and to execute and/or deliver to the Board any documents as may be
requested by the Board from time to time.

        C. Exercise of Options. An Option shall be exercisable on the terms and
           -------------------
conditions determined by the Board; provided, however, that no Option may be
exercised:

               (i)  if sooner terminated in accordance with the terms of the
Plan or the Option, or later than ten (10) years from the Date of Grant; and

               (ii) unless optionee delivers payment in cash in the amount of
the full Option exercise price for the shares of Company Stock being acquired
thereunder provided that if the terms of an Option so permit, the optionee may
(i) deliver Company Stock owned by the optionee (valued at Fair Market Value on
the date of exercise) in satisfaction of all or any part of the exercise price
or (ii) deliver a properly executed exercise notice together with irrevocable
instructions to a broker to promptly deliver to the Company the amount of the
sale or loan proceeds to pay the exercise price.

                                       5

<PAGE>

          D.  Change of Control. The Board may, in its discretion, grant
              -----------------
Options which by their terms become fully exercisable upon a Change of Control,
notwithstanding other conditions on exercisability in the stock option
agreement.

     8.   Termination, Modification, Change. If not sooner terminated by the
Board, the Plan shall terminate at the close of business on April 28, 2009. No
Options shall be granted under the Plan after its termination. The Board may
terminate the Plan or may amend the Plan in such respects as it shall deem
advisable, including amendments that the Board deems appropriate to ensure
compliance with applicable law. The termination or amendment of the Plan shall
not, without the consent of the optionee, detrimentally affect an optionee's
rights under an Option previously granted to him, except such termination or
amendment as the Board deems appropriate to ensure compliance with applicable
law. Notwithstanding the foregoing, the Board may terminate any Option
previously granted to an optionee and any agreement relating thereto in whole or
in part provided that upon any such termination the Company in full
consideration of the termination of such Option or portion thereof pays to such
optionee an amount in cash for each share of Company Stock subject to such
Option or portion thereof being terminated equal to the excess, if any, of (a)
the Fair Market Value of a share of Company Stock over (b) the sum of (i) the
exercise price per share of such Option, or, if the Board permits and the
optionee elects, accelerates the exercisability of such optionee's Option or
portion thereof (if necessary) and allows such optionee 30 days to exercise such
Option or portion thereof before the termination of such Option or portion
thereof. The Board shall also have the power to amend the terms of previously
granted Options so long as the terms as amended are consistent with the Plan and
provided that, except for such amendments as the Board deems appropriate to
ensure compliance with applicable law, the consent of the optionee is obtained
with respect to any amendment that would be detrimental to him.

     9.   Limitation of Rights.

          A.  No Right to Continue as a Director. Neither the Plan nor the
              ----------------------------------
award of an Option, nor any other action taken pursuant to the Plan, shall
constitute or be evidence of any agreement or understanding, express or implied,
that the Company will retain any person as a director for any period of time.

          B.  No Shareholders' Rights Under Options. The Company may place
              -------------------------------------
on any certificate representing Company Stock issued upon the exercise of an
Option any legend deemed desirable by the Company's counsel to comply with
Federal or state securities laws, and the Company may require of the optionee a
customary written indication of his investment intent. Until the optionee has
made any required payment and has had issued to him a certificate

                                        6

<PAGE>

(whether original, book-entry or otherwise) for the shares of Company Stock
acquired, he shall possess no shareholder rights with respect to the shares.

     10. Changes in Capital Structure.

         A.   In the event of a stock dividend, stock split or combination
of shares, spin-off, recapitalization or merger in which the Company is the
surviving corporation, a consolidation or a merger in which the Company is not
the surviving corporation, a transaction that results in the acquisition of
substantially all of the Company's outstanding stock by a single person or
entity, or a sale or transfer of substantially all of the Company's assets, or
other change in the Company's capital stock (including, but not limited to, the
creation or issuance to shareholders generally of rights, options or warrants
for the purchase of common stock or preferred stock of the Company), the Board
(whose determination shall be binding on all persons) may take such actions with
respect to the Plan and any outstanding Options as the Board deems appropriate,
including adjusting appropriately the number and kind of shares of stock or
securities of the Company to be subject to the Plan and to Options then
outstanding or to be granted under the Plan, the maximum number of shares or
securities which may be delivered under the Plan, the exercise price and any
other relevant provisions. If the adjustment would produce fractional shares
with respect to any unexercised Option, the Board may adjust appropriately the
number of shares covered by the Option so as to eliminate the fractional shares.

         B.   Notwithstanding anything in the Plan to the contrary, the
Board may take the foregoing actions without the consent of any optionee, and
the Board's determination shall be conclusive and binding on all persons for all
purposes.

     11. Notice. All notices and other communications required or permitted to
be given under the Plan shall be in writing and shall be deemed to have been
duly given if delivered personally or mailed first class, postage prepaid, as
follows: (a) if to the Company, at its principal business address to the
attention of the Secretary; and (b) if to any optionee, at the last address of
the optionee known to the sender at the time the notice or other communication
is sent.

     12. Governing Law. The terms of the Plan shall be governed by the laws of
the Commonwealth of Virginia.

                                        7

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