Document:

Amended and Restated Change in Control Agreement - Riley

 EXHIBIT 10.5 
 FIRST PEOPLES BANK 
 AMENDED & RESTATED 
 CHANGE IN CONTROL AGREEMENT 
 THIS AMENDED & RESTATED CHANGE IN CONTROL AGREEMENT (“Agreement”) is entered into by and between First Peoples Bank (“Employer”) and Marge Riley (“Employee”). 
 WHEREAS, in recognition of Employee’s prior and continuing contribution to Employer, Employer wishes to protect Employee’s
position therewith in the manner provided in the Agreement in the event of a Change in Control of either the Employer or its holding company, FPB Bancorp, Inc. (“FPB”). 
 NOW, THEREFORE, in consideration of Employee’s position as the Employer’s Executive Vice President and Chief Operating Officer
and Employee’s contribution and responsibilities, Employer hereby agrees to provide Employee with certain severance benefits as specifically provided herein. 
 SECTION 1 – DEFINITIONS 
 (a) “Change in Control” means an event that would be
required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (“Exchange Act”) or any successor disclosure item; provided that, without limitation,
such a Change in Control (as set forth in 12 U.S.C. Section 1841 (a)(2) of the Bank Holding Company Act of 1956, as amended) shall be deemed to have occurred if any person (as such term is used in Sections 13(d) and 14(d) of the Exchange Act),
other than any person who on the date hereof is a director or officer of Employer or FPB: (i) directly or indirectly, or acting in concert through one or more other persons, owns, controls, or has power to vote 25% or more of any class of the
then outstanding voting securities of Employer or FPB; or (ii) controls in any manner the election of the directors of Employer or FPB. For purposes of this Agreement, a “Change in Control” shall be deemed not to have occurred in
connection with a reorganization, consolidation, or merger of Employer or FPB whereby the stockholders of Employer or FPB, immediately before the consummation of the transaction, will own over 50% of the total combined voting power of all classes of
stock entitled to vote of the surviving entity immediately after the transaction. 
 (b) Termination for “just cause” means
termination because of Employee’s personal dishonesty, incompetence, insubordination, misconduct or conduct which negatively reflects upon the Employer, breach of fiduciary duty, intentional failure to perform stated duties, willful violation
of any law, rule, or regulation (other than minor traffic violations or similar offenses), or final cease-and desist order. In determining “incompetence,” the acts or omissions shall be measured against standards generally prevailing in
the banking industry. No act, or failure to act on Employee’s part, shall be considered “willful” unless done, or omitted to be done, by Employee not in good faith and without reasonable belief that Employee’s action or omission
was in the best interest of Employer; provided that any act or omission to act on Employee’s behalf in reliance upon advice or written opinion of Employer’s counsel shall not be deemed to be willful. 

 (c) “Protected Period” means the term of this Agreement and six months following termination
hereof if Employee is employed by Employer at the time Employee first learns of a potential Change in Control, which is in fact later consummated. 
 SECTION 2 – TERM OF AGREEMENT 
 This Agreement shall remain in effect for two years commencing on August 1, 2007,
and terminating on July 31, 2009, unless extended or terminated in accordance with the terms and conditions set forth in Section 8 herein. 
 SECTION 3 – PAYMENTS TO EMPLOYEE UPON CHANGE IN CONTROL 
 If Employer terminates Employee’s employment without
“just cause,” Employee shall be entitled to receive the termination benefits described in Section 4 hereof, if a Change in Control has occurred within the Protected Period. Employee shall also be entitled to receive such termination
benefits described in Section 4 herein, if within 90 days of a Change in Control Employee elects to terminate her employment. 
 SECTION 4 – TERMINATION BENEFITS 
 (a) Upon a termination described in Section 3, Employer or its successor(s)
shall pay Employee, or in the event of Employee’s subsequent death, Employee’s estate, as severance pay, a sum equal to two and one half years of Employee’s “highest annual base salary.” For purposes of this Agreement,
Employee’s “highest annual base salary” shall mean the Employee’s highest base salary, plus Employee’s average annual bonus during the three years immediately preceding Employee’s termination. Such payment shall be made
in one lump sum payment within ten business days of such a termination of employment. 
 (b) Upon a termination described in Section 3,
Employer or its successor(s) shall continue to provide life, health, and disability coverage (“Coverage”) comparable to the coverage maintained by Employer for Employee prior to Employee’s severance. Such Coverage shall cease upon the
earlier of Employee obtaining new employment and receiving Coverage through another employer, which provides comparable coverage, or six-months from the date of Employee’s termination. 
 SECTION 5 – SUSPENSION OF OBLIGATIONS 
 (a) If Employee is suspended from
office and/or temporarily prohibited from participating in the conduct of Employer’s affairs pursuant to an action brought by the Florida Office of Financial Regulation, Office of the Comptroller of the Currency, Office of Thrift Supervision,
or the Federal Deposit Insurance Corporation (any and all referred to herein as “Regulatory Agency”), Employer’s obligations under this Agreement shall be suspended as of the date of such action. The obligations of this Agreement
shall be suspended as of the date of such action. The obligations of this Agreement shall be reinstated if the chargers of the Regulatory Agency are subsequently dismissed, or if the Employee is otherwise determined to be not guilty of such charges.

  

 2 

 (b) If Employee is removed from office and/or permanently prohibited from participating in the conduct or
affairs of Employer by a final order resulting from an action brought by a Regulatory Agency, all obligations of Employer under this Agreement shall terminate as of the effective date of such order. 
 SECTION 6 – NOTICE OF TERMINATION 
 Any purported termination by Employer or by Employee shall be communicated by a Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall
indicate the specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Employee’s employment under the provision so indicated.

 SECTION 7 – AGREEMENT NOT TO COMPETE 
 (a) In consideration of the benefits and protections provided under this Agreement, Employee agrees that during the term of this Agreement, and for a period of six months following the termination of Employee’s
employment for any reason other than that contemplated by Section 3, Employee shall not become employed, directly or indirectly, whether as an employee, independent contractor, consultant, or otherwise, with any federally-insured financial
institution, financial holding company, bank holding company, or other financial services provider located in a county where Employer operates a branch office (including but not limited to St. Lucie, Martin and Indian River Counties, Florida) that
offers similar products or services as those offered by the Employer, or with any person or entity whose intent it is to organize another such company or entity located in a county where Employer operates a branch office (including but not limited
to St. Lucie, Martin and Indian River Counties, Florida). 
 (b) Employee hereby agrees that the duration of the anti-competitive covenant
set forth herein is reasonable, and that its geographic scope is not unduly restrictive. 
 (c) The parties acknowledge and agree that money
damages cannot fully compensate Employer in the event of Employee’s violation of the provisions of this Section 7. Thus, in the event of a breach of any of the provisions of this Section 7, Employee agrees that Employer, upon
application to a court of competent jurisdiction, shall be entitled to an injunction restraining Employee from any further breach of the terms and provisions of this Section 7. Employee’s sole remedy, in the event of the wrongful entry of
such injunction, shall be the dissolution of such injunction and any costs as provided for in Section 10 herein. Employee hereby waives any and all claims for damages by reason of the wrongful issuance of any such injunction. 
 SECTION 8 – MODIFICATION AND WAIVER 
 (a) This Agreement may not be modified or amended except as agreed to in writing by the parties hereto. 
 (b) No term or condition
of this Agreement shall be deemed to have been waived, nor shall there be any estoppels against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written
waiver 

  

 3 

 
shall be deemed a continuing waiver unless specifically stated therein, and each such waiver shall operate only as to the specific term or condition waived
and shall not constitute a waiver of such term or condition in the future, or as to any act other than that specifically waived. 
 SECTION
9 – MEDIATION 
 Except for the specific remedies for injunctive relief as contained in Section 7, in the event a dispute
arises between the parties, the parties agree that they shall participate in at least four hours of mediation with a Florida Supreme Court Mediator prior to commencing any litigation over any controversy or claim arising out of or relating to this
Agreement or any breach hereof, including, without limitation, any claim that this Agreement or any portion hereof is invalid, illegal, or otherwise voidable. Employer agrees to bear the costs of the mediation. The mediation shall take place at a
mutually agreeable site in St. Lucie County, Florida. 
 SECTION 10 – ATTORNEYS’ FEES 
 In the event of any litigation occurring out of or involving this Agreement, the prevailing party shall be entitled to the recovery of reasonable
attorneys’ fees, expenses, and costs, including fees and costs to enforce an award. 
 SECTION 11 – SEVERABILITY 

The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement, which shall remain in full force and effect. 
 SECTION 12 – HEADINGS FOR REFERENCE ONLY 

The headings of the Sections herein are included solely for convenience of reference and shall not control the meaning or the interpretation of any of
the provisions of this Agreement. 
 SECTION 13 – APPLICABLE LAW AND VENUE 
 This Agreement shall be governed in all respects and be interpreted by and under the laws of the State of Florida. Any litigation regarding this
Agreement shall be brought in the appropriate court in St. Lucie County, Florida. 
 SECTION 14 – SUCCESSORS 
 Employer shall require any successor to the business and/or assets of Employer in connection with a Change in Control to assume and agree to perform its
obligations under this Agreement in writing. 
 SECTION 15 – NO CONTRACT OF EMPLOYMENT 
 This Agreement shall not, under any circumstances, be deemed to constitute an employment contract between Employer and Employee or to be in consideration
of or an inducement for the continued employment of Employee. Nothing contained in this Agreement shall be deemed to give Employee the right to be retained in the service of Employer, or to interfere with the right of Employer to discharge Employee
at any time. 
  

 4 

 SECTION 16 – LIMITATION OF RIGHTS 
 Neither this Agreement, nor any amendment hereof, nor the payment of any benefits hereunder shall be construed as giving Employee or any other person any
legal or equitable right against Employer except as expressly provided herein. 
 SECTION 17 – AMENDMENT & RESTATEMENT 

 This Agreement amends and completely restates any other employment related agreements by and between Employee and Employer. By executing
this Agreement, Employee completely releases Employer and all of its subsidiaries from any obligations that may have existed under any such other agreements. 
 IN WITNESS WHEREOF, Employer has duly executed this Agreement this 30th day of July, 2007. 
  

							
	EMPLOYEE	 		 	 FIRST PEOPLES BANK

				
	 /s/ Marge Riley
	 		 	By:	 	 /s/ David W. Skiles

	Marge Riley	 		 		 	David W. Skiles
		 		 		 	President and Chief Executive Officer

  

 5EXHIBIT 4.1

 Exhibit 4.1 
  

 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 
 as Issuer 
 and 
 THE BANK OF NEW YORK 
 as Indenture Trustee 
 CLASS B(2007-5) TERMS DOCUMENT 
 dated
as of July 31, 2007 
 to 
 CARD SERIES INDENTURE SUPPLEMENT 
 dated as of October 9, 2002 
 to 
 ASSET POOL 1 SUPPLEMENT 
 dated as of October 9, 2002 
 to

 INDENTURE 
 dated as of
October 9, 2002, as amended and restated as of January 13, 2006 
  

 TABLE OF CONTENTS 
  

					
	 	 	 	  	Page
	 ARTICLE I
 Definitions and Other Provisions of General Application

			
	Section 1.01.	 	Definitions	  	1
			
	Section 1.02.	 	Governing Law	  	7
			
	Section 1.03.	 	Counterparts	  	7
			
	Section 1.04.	 	Ratification of Indenture, Asset Pool 1 Supplement and Indenture Supplement	  	7
	
	 ARTICLE II
 The Class B(2007-5) Notes

			
	Section 2.01.	 	Creation and Designation	  	8
			
	Section 2.02.	 	Adjustments to Required Subordinated Percentages	  	8
			
	Section 2.03.	 	Interest Payment	  	8
			
	Section 2.04.	 	[Reserved].	  	8
			
	Section 2.05.	 	Payments of Interest and Principal	  	8
			
	Section 2.06.	 	Form of Delivery of Class B(2007-5) Notes; Depository; Denominations	  	9
			
	Section 2.07.	 	Delivery and Payment for the Class B(2007-5) Notes	  	9
			
	Section 2.08.	 	Targeted Deposits to the Accumulation Reserve Account	  	9
			
	Section 2.09.	 	[Reserved]	  	9

  

 -i- 

 THIS CLASS B(2007-5) TERMS DOCUMENT (this “Terms Document”), by and between CAPITAL ONE
MULTI-ASSET EXECUTION TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at E. A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road,
Wilmington, DE 19805 and THE BANK OF NEW YORK, a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of July 31, 2007. 
 Pursuant to this Terms Document, the Issuer shall create a new tranche of Class B Notes and shall specify the principal terms thereof. 
 ARTICLE I 
 Definitions and Other Provisions
of General Application 
 Section 1.01. Definitions. For all purposes of this Terms Document, except as otherwise expressly
provided or unless the context otherwise requires: 
  

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

  

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

  

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

  

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

  

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

  

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

  

	 	(7)	each capitalized term defined herein shall relate only to the Class B(2007-5) Notes and no other Tranche of Notes issued by the Issuer; and 

  

 1 

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

 “Accumulation Period Amount” means $12,500,000; provided, however, if the Accumulation Period Length is determined to be
less than twelve (12) months pursuant to Section 3.10(b)(ii) of the Indenture Supplement, the Accumulation Period Amount shall be the amount specified in the definition of “Accumulation Period Amount” in the Indenture
Supplement. 
 “Accumulation Reserve Funding Period” shall mean, (a) if the Accumulation Period Length is determined to
be one (1) month, there shall be no Accumulation Reserve Funding Period and (b) otherwise, the period (x) commencing on the earliest to occur of (i) the Monthly Period beginning three (3) calendar months prior to the first
Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account of the Class B(2007-5) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the
first Distribution Date following and including the June 2008 Distribution Date for which the Quarterly Excess Spread Percentage is less than 2%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier
than 12 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for the Class B(2007-5) Notes pursuant to Section 3.10(b) of the Indenture Supplement,
(iii) the Monthly Period following the first Distribution Date following and including the December 2008 Distribution Date for which the Quarterly Excess Spread Percentage is less than 3%, but in such event the Accumulation Reserve Funding
Period shall not be required to commence earlier than 6 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for the Class B(2007-5) Notes pursuant to
Section 3.10(b) of the Indenture Supplement, and (iv) the Monthly Period following the first Distribution Date following and including the February 2009 Distribution Date for which the Quarterly Excess Spread Percentage is less than
4%, but in such event the Accumulation Reserve Funding Period shall not be required to commence earlier than 4 months prior to the first Distribution Date for which a budgeted deposit is targeted to be made into the Principal Funding sub-Account for
the Class B(2007-5) Notes pursuant to Section 3.10(b) of the Indenture Supplement and (y) ending on the close of business on the last day of the Monthly Period preceding the earlier to occur of (i) the Expected Principal
Payment Date for the Class B(2007-5) Notes and (ii) the date on which the Class B(2007-5) Notes are paid in full. 
 “Aggregate
Class B Unencumbered Amount” means an amount equal to the Adjusted Outstanding Dollar Principal Amount of all Class B Notes in the Card Series minus the sum of the Required Subordinated Amount of Class B Notes for all Class A
Notes in the Card Series. 
 “Asset Pool 1 Supplement” means the Asset Pool 1 Supplement dated as of October 9, 2002,
by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
 “Base Rate” means,
with respect to any Monthly Period, the sum of (a) the Card Series Servicing Fee Percentage and (b) the weighted average (based on the Outstanding Dollar Principal Amount of the related Card Series Notes) of the following: 
  

 2 

 (i) in the case of a Tranche of Card Series Dollar Interest-bearing Notes with no
Derivative Agreement for interest, the rate of interest applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing Notes in such Monthly Period to but
excluding the Monthly Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing Notes in the following Monthly Period; 
 (ii) in the case of a Tranche of Card Series Discount Notes, the rate of accretion (converted to an accrual rate) of such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of
Card Series Discount Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Discount Notes in the following Monthly Period; 
 (iii) in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement for interest, the rate at which payments by the
Issuer to the applicable Derivative Counterparty accrue (prior to the netting of such payments, if applicable) for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in such Monthly Period to but
excluding the Monthly Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; provided, however, that in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement for interest in which the
rating on such Tranche of Card Series Notes is not dependant upon the rating of the applicable Derivative Counterparty, the amount determined pursuant to this clause (iii) will be the higher of (1) the rate determined pursuant to this
clause (iii) above and (2) the rate of interest applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in such Monthly Period to but excluding the Monthly
Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; and 
 (iv) in the case of a
tranche of Card Series Notes with a non-Performing Derivative Agreement for interest, the rate specified for that date in the related Terms Document. 
 “Class B(2007-5) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event with respect to the Class B(2007-5) Notes or (b) an Event of Default and
acceleration of the Class B(2007-5) Notes. 
 “Class B(2007-5) Note” means any Note, substantially in the form set forth in
Exhibit A-2 to the Indenture Supplement, designated therein as a Class B(2007-5) Note and duly executed and authenticated in accordance with the Indenture. 
 “Class B(2007-5) Noteholder” means a Person in whose name a Class B(2007-5) Note is registered in the Note Register. 
 “Class B(2007-5) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class B(2007-5) Notes is 

  

 3 

 
paid in full, (b) the Legal Maturity Date and (c) the date on which the Indenture is discharged and satisfied pursuant to Article VI
thereof. 
 “Encumbered Required Subordinated Amount of Class C Notes” means, for the Class B(2007-5) Notes, an amount equal
to the product of (a) the aggregate Required Subordinated Amount of Class C Notes for all Class A Notes in the Card Series with a Required Subordinated Amount of Class B Notes greater than zero and (b) the percentage equivalent of a
fraction, the numerator of which is the Adjusted Outstanding Dollar Principal Amount of the Class B(2007-5) Notes and the denominator of which is the Adjusted Outstanding Dollar Principal Amount of all Class B Notes in the Card Series. 

“Encumbered Required Subordinated Amount of Class D Notes” means, for the Class B(2007-5) Notes, an amount equal to the product of
(a) the aggregate Required Subordinated Amount of Class D Notes for all Class A Notes in the Card Series with a Required Subordinated Amount of Class B Notes greater than zero and (b) the percentage equivalent of a fraction, the
numerator of which is the Adjusted Outstanding Dollar Principal Amount of the Class B(2007-5) Notes and the denominator of which is the Adjusted Outstanding Dollar Principal Amount of all Class B Notes in the Card Series. 
 “Excess Spread Percentage” shall mean, with respect to any Distribution Date, the amount, if any, by which the Portfolio Yield for the
preceding Monthly Period exceeds the Base Rate for such Monthly Period. 
 “Expected Principal Payment Date” means
July 15, 2010. 
 “Initial Dollar Principal Amount” means $150,000,000. 
 “Indenture” means the Indenture dated as of October 9, 2002, as amended and restated as of January 13, 2006 by and between the
Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
 “Indenture Supplement” means the Card
Series Indenture Supplement dated as of October 9, 2002, by and between the Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
 “Interest Payment Date” means the fifteenth day of each month commencing in August 2007, or if such fifteenth day is not a Business Day, the next succeeding Business Day. 
 “Interest Period” means, with respect to any Interest Payment Date, the period from and including the previous Interest Payment Date (or
in the case of the initial Interest Payment Date, from and including the Issuance Date) through the day preceding such Interest Payment Date. 
 “Issuance Date” means July 31, 2007. 
 “Legal Maturity Date” means May 15, 2013.

 “Note Interest Rate” means a rate per annum equal to 5.40%. 
  

 4 

 “Paying Agent” means The Bank of New York. 
 “Portfolio Yield” means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction: 
 (a) the numerator of which is equal to the sum of: 
 (i) the aggregate amount of Finance Charge Amounts allocated to the Card Series with respect to such Monthly Period; plus 
 (ii) the aggregate amount of Interest Funding sub-Account Earnings on all Tranches of Card Series Notes for such Monthly Period;
plus 
 (iii) any amounts to be treated as Card Series Finance Charge Amounts pursuant to Sections 3.20(d) and
3.27(a) of the Indenture Supplement; minus 
 (iv) the excess, if any, of (1) the sum of the PFA Prefunding
Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over (2) the sum of the aggregate amount to be treated as Card Series Finance Charge Amounts for such Monthly Period pursuant to Sections 3.04(a)(ii) and
3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of Card Series Notes for such Monthly Period; minus 
 (v) the Card Series Default Amount for such Monthly Period; and 
 (b) the denominator of which is the numerator used in the calculation of the Card Series Floating Allocation Percentage for such Monthly Period.

 “Quarterly Excess Spread Percentage” means, with respect to the October 2008 Distribution Date and each Distribution Date
thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Spread Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three. 
 “Record Date” means, for any Distribution Date, the last Business Day of the preceding Monthly Period. 
 “Required Accumulation Reserve sub-Account Amount” means, with respect to any Monthly Period during the Accumulation Reserve Funding
Period, an amount equal to (i) 0.5% of the Outstanding Dollar Principal Amount of the Class B(2007-5) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer;
provided, however, that if such designation is of a lesser amount, the Note Rating Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change. 
 “Required Subordinated Amount of Class C Notes” means, for the Class B(2007-5) Notes, an amount equal to the sum of (a) the
Unencumbered Required Subordinated Amount of Class C Notes for such Class B(2007-5) Notes and (b) the Encumbered Required Subordinated 

  

 5 

 
Amount of Class C Notes for such Class B(2007-5) Notes; provided, however, that for any date of determination, unless (i) the Prefunding
Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series
Notes, the Required Subordinated Amount of Class C Notes for the Class B(2007-5) Notes will not be less than an amount equal to (i) 3.0% of the Initial Dollar Principal Amount of the Class B(2007-5) Notes, minus (ii) the Required
Subordinated Amount of Class D Notes for the Class B(2007-5) Notes; provided further, however, that for any date of determination on or after the occurrence and during the continuation of a Class B(2007-5) Adverse Event, the
Required Subordinated Amount of Class C Notes for the Class B(2007-5) Notes will be the greater of (x) the amount determined above for such date of determination, (y) the amount determined above for the date immediately prior to the date
on which such Class B(2007-5) Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are
on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the amount determined pursuant to the preceding proviso. 
 “Required Subordinated Amount of Class D Notes” means, for the Class B(2007-5) Notes, an amount equal to the sum of (a) the Unencumbered Required Subordinated Amount of Class D Notes for such
Class B(2007-5) Notes and (b) the Encumbered Required Subordinated Amount of Class D Notes for such Class B(2007-5) Notes; provided, however, that for any date of determination, unless (i) the Prefunding Target Amount for any
Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the Required
Subordinated Amount of Class D Notes for the Class B(2007-5) Notes will not be less than an amount equal to 1.0870% of the Initial Dollar Principal Amount of the Class B(2007-5) Notes, provided further, however, that for any
date of determination on or after the occurrence and during the continuation of a Class B(2007-5) Adverse Event, the Required Subordinated Amount of Class D Notes for the Class B(2007-5) Notes will be the greatest of (x) the amount determined
above for such date of determination, (y) the amount determined above for the date immediately prior to the date on which such Class B(2007-5) Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount for any
Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the amount
determined pursuant to the preceding proviso. 
 “Required Subordinated Percentage of Class C Notes” means, for the
Class B(2007-5) Notes, 7.6087%, subject to adjustment in accordance with Section 2.02. 
 “Required Subordinated
Percentage of Class D Notes” means, for the Class B(2007-5) Notes, 1.0870%, subject to adjustment in accordance with Section 2.02. 
 “Stated Principal Amount” means $150,000,000. 
 “Unencumbered Amount”
means, for the Class B(2007-5) Notes, an amount equal to the product of (a) the percentage equivalent of a fraction, the numerator of which is the Aggregate Class B Unencumbered Amount and the denominator of which is the Adjusted 

  

 6 

 
Outstanding Dollar Principal Amount of all Class B Notes in the Card Series and (b) the Adjusted Outstanding Dollar Principal Amount of the Class
B(2007-5) Notes. 
 “Unencumbered Required Subordinated Amount of Class C Notes” means, for the Class B(2007-5) Notes, an
amount equal to the product of (a) the Unencumbered Amount for the Class B(2007-5) Notes and (b) the Required Subordinated Percentage of Class C Notes for the Class B(2007-5) Notes. 
 “Unencumbered Required Subordinated Amount of Class D Notes” means, for the Class B(2007-5) Notes, an amount equal to the product of
(a) the Unencumbered Amount for the Class B(2007-5) Notes and (b) the Required Subordinated Percentage of Class D Notes for the Class B(2007-5) Notes. 
 Section 1.02. Governing Law. THIS TERMS DOCUMENT WILL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTION 5-1401 OF THE GENERAL OBLIGATION LAW, WITHOUT
REFERENCE TO ITS CONFLICT OF LAW PROVISIONS AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 Section 1.03. Counterparts. This Terms Document may be executed in any number of counterparts, each of which so executed will be deemed to be an original, but all such counterparts will together constitute
but one and the same instrument. 
 Section 1.04. Ratification of Indenture, Asset Pool 1 Supplement and Indenture Supplement. As
supplemented by this Terms Document, each of the Indenture, the Asset Pool 1 Supplement and the Indenture Supplement is in all respects ratified and confirmed and the Indenture as so supplemented by the Asset Pool 1 Supplement as so supplemented by
the Indenture Supplement as so supplemented and this Terms Document shall be read, taken and construed as one and the same instrument. 
 [END
OF ARTICLE I] 
  

 7 

 ARTICLE II 
 The Class B(2007-5) Notes 
 Section 2.01. Creation and Designation. There is hereby created a
tranche of Card Series Class B Notes to be issued pursuant to the Indenture, the Asset Pool 1 Supplement and the Indenture Supplement to be known as the “Card Series Class B(2007-5) Notes.” 
 Section 2.02. Adjustments to Required Subordinated Percentages. 
 (a) On any date, the Issuer may increase the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each case, for the Class B(2007-5) Notes without the consent
of any Noteholders or the Note Rating Agencies. 
 (b) On any date, the Issuer may reduce the Required Subordinated Percentage of Class C
Notes or the Required Subordinated Percentage of Class D Notes, in each case for the Class B(2007-5) Notes, provided that the Issuer has (i) received written confirmation from each Note Rating Agency that has rated any Outstanding Notes of the
Card Series that the change in such percentage will not result in a Ratings Effect with respect to any Outstanding Notes and (ii) delivered to the Indenture Trustee and the Note Rating Agencies a Master Trust Tax Opinion for each Master Trust
and an Issuer Tax Opinion. 
 Section 2.03. Interest Payment. 
 (a) For each Interest Payment Date, the amount of interest due with respect to the Class B(2007-5) Notes shall be an amount equal to one twelfth of the
product of the Note Interest Rate times the Outstanding Dollar Principal Amount of the Class B(2007-5) Notes determined as of the Record Date preceding the related Distribution Date; provided however that for the first Interest Payment
Date the amount of interest due is $337,500.00. Any interest on the Class B(2007-5) Notes will be calculated on the basis of a 360-day year consisting of twelve 30-day months. 
 (b) Pursuant to Section 3.03 of the Indenture Supplement, on each Distribution Date, the Indenture Trustee shall deposit into the Class
B(2007-5) Interest Funding sub-Account the portion of Card Series Finance Charge Amounts allocable to the Class B(2007-5) Notes. 
 Section 2.04. [Reserved]. 
 Section 2.05. Payments of Interest and Principal. 
 (a) Any installment of interest or principal, if any, payable on any Class B(2007-5) Note which is punctually paid or duly provided for by the Issuer and
the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class B(2007-5) Note (or one or more Predecessor Notes) is registered on the Record Date, by
wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business Day preceding the date
of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to 

  

 8 

 
Notes registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds
to the account designated by such nominee. 
 (b) The right of the Class B(2007-5) Noteholders to receive payments from the Issuer will
terminate on the first Business Day following the Class B(2007-5) Termination Date. 
 Section 2.06. Form of Delivery of Class
B(2007-5) Notes; Depository; Denominations. 
 (a) The Class B(2007-5) Notes shall be delivered in the form of a global Registered Note as
provided in Sections 202 and 301(i) of the Indenture, respectively. 
 (b) The Depository for the Class B(2007-5) Notes shall
be The Depository Trust Company, and the Class B(2007-5) Notes shall initially be registered in the name of Cede & Co., its nominee. 
 (c) The Class B(2007-5) Notes will be issued in minimum denominations of $100,000 and integral multiples of $1,000 in excess of that amount. 
 Section 2.07. Delivery and Payment for the Class B(2007-5) Notes. The Issuer shall execute and deliver the Class B(2007-5) Notes to the Indenture Trustee for authentication, and the Indenture Trustee shall
deliver the Class B(2007-5) Notes when authenticated, each in accordance with Section 303 of the Indenture. 
 Section 2.08.
Targeted Deposits to the Accumulation Reserve Account. 
 The deposit targeted to be made to the Accumulation Reserve Account for any
Monthly Period during the Accumulation Reserve Funding Period will be an amount equal to the Required Accumulation Reserve sub-Account Amount. 
 Section 2.09. [Reserved]. 
 [END OF ARTICLE II] 
  

 9 

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

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

	Name:	 	Michele H.Y. Voon
	Title:	 	Attorney-in-Fact
		
	By:	 	 /s/ Susan Barstock

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

	Name:	 	Catherine Cerilles
	Title:	 	Vice President

 [Signature Page to the Class B(2007-5) Terms Document]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00127-of-00352.parquet"}]]