Document:

Exhibit 4.4

 Exhibit 4.4 
  

 GUARANTEE AGREEMENT 
 Dated as of June 6, 2006 
 By and Between 
 CAPITAL ONE FINANCIAL CORPORATION, 
 as Guarantor 
 and 
 THE BANK OF NEW YORK, 
 as Trustee 
  

 CROSS REFERENCE TABLE1 
  

			
	 Section of Trust Indenture Act of 1939, as amended
	  	Section of Guarantee Agreement
	 310(a)
	  	4.1(a)
	 310(b)
	  	2.8; 4.1(c)
	 310(c)
	  	Inapplicable
	 311(a)
	  	2.2(b)
	 311(b)
	  	2.2(b)
	 311(c)
	  	Inapplicable
	 312(a)
	  	2.2(a); 2.9
	 312(b)
	  	2.2(b); 2.9
	 312(c)
	  	2.9
	 313(a)
	  	2.3
	 313(b)
	  	2.3
	 313(c)
	  	2.3
	 313(d)
	  	2.3
	 314(a)
	  	2.4
	 314(b)
	  	Inapplicable
	 314(c)
	  	2.5
	 314(d)
	  	Inapplicable
	 314(e)
	  	2.5
	 314(f)
	  	Inapplicable
	 315(a)
	  	3.1(d); 3.2(a)
	 315(b)
	  	2.7(a)
	 315(c)
	  	3.1(c)
	 315(d)
	  	3.1(d)
	 316(a)
	  	2.6; 5.4(a)
	 316(b)
	  	5.3
	 316(c)
	  	Inapplicable
	 317(a)
	  	2.10
	 317(b)
	  	Inapplicable
	 318(a)
	  	2.1(b)

	1	This Cross-Reference Table does not constitute part of the Agreement and shall not have any bearing upon the interpretation of any of its terms or provisions.

 TABLE OF CONTENTS 
 INDEX OF TERMS 
  

			
	 	  	Page
	 7.50% Trust Preferred Securities
	  	1
		
	 Affiliate
	  	2
		
	 Business Day
	  	2
		
	 Capital Securities
	  	2
		
	 Common Securities
	  	2
		
	 Common Stock
	  	2
		
	 Corporate Trust Office
	  	2
		
	 Declaration of Trust
	  	2
		
	 First Supplemental Indenture
	  	2
		
	 Global Security
	  	2
		
	 Guarantee
	  	1
		
	 Guarantee Event of Default
	  	2
		
	 Guarantee Payments
	  	2
		
	 Guarantee Trustee
	  	1, 3
		
	 Guarantor
	  	1, 2, 3, 5, 6, 7, 9, 10, 11, 12, 13, 14, 15, 16, 1
		
	 Holder
	  	3
		
	 Indenture
	  	3
		
	 List of Holders
	  	3
		
	 Majority in Liquidation Amount
	  	3
		
	 Notes
	  	3
		
	 Officers’ Certificate
	  	4
		
	 Person
	  	4
		
	 Redemption Price
	  	4
		
	 Responsible Officer
	  	4
		
	 Securities
	  	4
		
	 Successor Guarantee Trustee
	  	4
		
	 Trust
	  	1
		
	 Trust Enforcement Event
	  	4

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	Trust Indenture Act	  	4
			
		  	ARTICLE I	  	
		  	INTERPRETATION AND DEFINITIONS	  	
			
	Section 1.1	  	INTERPRETATION AND DEFINITIONS	  	1
			
		  	ARTICLE II	  	
		  	TRUST INDENTURE ACT	  	
			
	Section 2.1	  	TRUST INDENTURE ACT; APPLICATION	  	5
			
	Section 2.2	  	LISTS OF HOLDERS OF SECURITIES	  	5
			
	Section 2.3	  	REPORTS BY GUARANTEE TRUSTEE	  	5
			
	Section 2.4	  	PERIODIC REPORTS TO GUARANTEE TRUSTEE	  	5
			
	Section 2.5	  	EVIDENCE OF COMPLIANCE WITH CONDITIONS PRECEDENT	  	6
			
	Section 2.6	  	GUARANTEE EVENT OF DEFAULT; WAIVER	  	6
			
	Section 2.7	  	GUARANTEE EVENT OF DEFAULT; NOTICE	  	6
			
	Section 2.8	  	CONFLICTING INTERESTS	  	6
			
	Section 2.9	  	DISCLOSURE OF INFORMATION	  	6
			
	Section 2.10	  	GUARANTEE TRUSTEE MAY FILE PROOFS OF CLAIM	  	7
			
		  	ARTICLE III	  	
		  	POWERS, DUTIES AND RIGHTS OF GUARANTEE TRUSTEE	  	
			
	Section 3.1	  	POWERS AND DUTIES OF GUARANTEE TRUSTEE	  	7
			
	Section 3.2	  	CERTAIN RIGHTS OF GUARANTEE TRUSTEE	  	9
			
		  	ARTICLE IV	  	
		  	GUARANTEE TRUSTEE	  	
			
	Section 4.1	  	GUARANTEE TRUSTEE; ELIGIBILITY	  	10
			
	Section 4.2	  	APPOINTMENT, REMOVAL AND RESIGNATION OF GUARANTEE TRUSTEE	  	11
			
		  	ARTICLE V	  	
		  	GUARANTEE	  	
			
	Section 5.1	  	GUARANTEE	  	12

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	 Section 5.2
	  	WAIVER OF NOTICE AND DEMAND	  	12
			
	 Section 5.3
	  	OBLIGATIONS NOT AFFECTED	  	12
			
	 Section 5.4
	  	RIGHTS OF HOLDERS	  	13
			
	 Section 5.5
	  	GUARANTEE OF PAYMENT	  	14
			
	 Section 5.6
	  	SUBROGATION	  	14
			
	 Section 5.7
	  	INDEPENDENT OBLIGATIONS	  	14
			
		  	ARTICLE VI	  	
		  	LIMITATION OF TRANSACTIONS; SUBORDINATION	  	
			
	 Section 6.1
	  	LIMITATION OF TRANSACTIONS	  	14
			
	 Section 6.2
	  	RANKING	  	15
			
	 Section 6.3
	  	SUBORDINATION OF COMMON SECURITIES	  	15
			
		  	ARTICLE VII	  	
		  	TERMINATION	  	
			
	 Section 7.1
	  	TERMINATION	  	15
			
		  	ARTICLE VIII	  	
		  	INDEMNIFICATION	  	
			
	 Section 8.1
	  	INDEMNIFICATION	  	15
			
		  	ARTICLE IX	  	
		  	MISCELLANEOUS	  	
			
	 Section 9.1
	  	SUCCESSORS AND ASSIGNS	  	16
			
	 Section 9.2
	  	AMENDMENTS	  	16
			
	 Section 9.3
	  	NOTICES	  	16
			
	 Section 9.4
	  	BENEFIT	  	17
			
	 Section 9.5
	  	GOVERNING LAW	  	17

  

 -iii- 

 GUARANTEE AGREEMENT 
 This GUARANTEE AGREEMENT (the “Guarantee“), dated as of June 6, 2006, is executed and delivered by CAPITAL ONE FINANCIAL CORPORATION, a Delaware corporation (the “Guarantor“), and THE BANK OF
NEW YORK, a corporation duly existing under the laws of the State of New York, as trustee (the “Guarantee Trustee“), for the benefit of the Holders (as defined herein) from time to time of the Securities (as defined herein) of CAPITAL ONE
CAPITAL II, a Delaware statutory trust (the “Trust“). 
 RECITALS 
 WHEREAS, pursuant to the Declaration of Trust (as defined herein), the Trust may issue up to $345,000,000 aggregate liquidation amount of capital
securities, having a liquidation amount of $25.00 per security and designated the “7.50% Trust Preferred Securities“ of the Trust (the “Capital Securities”) and $1,000,000 aggregate liquidation amount of common securities, having
a liquidation amount of $25.00 per security and designated the “7.50% Common Securities” of the Trust (the “Common Securities” and, together with the Capital Securities, the “Securities”); 
 WHEREAS, as incentive for the Holders to purchase the Securities, the Guarantor desires irrevocably and unconditionally to agree, to the extent set forth
in this Guarantee, to pay to the Holders of the Securities the Guarantee Payments (as defined herein) and to make certain other payments on the terms and conditions set forth herein; and 
 WHEREAS, if a Trust Enforcement Event (as defined herein) has occurred and is continuing, the rights of holders of the Common Securities to receive
Guarantee Payments (as defined herein) under this Guarantee are subordinated to the rights of Holders of Capital Securities to receive Guarantee Payments under this Guarantee; 
 NOW, THEREFORE, in consideration of the purchase by each Holder of Securities, which purchase the Guarantor hereby agrees shall benefit the Guarantor,
the Guarantor executes and delivers this Guarantee for the benefit of the Holders. 
 ARTICLE I 
 INTERPRETATION AND DEFINITIONS 
 SECTION 1.1 INTERPRETATION AND DEFINITIONS. 
 In this Guarantee, unless the context otherwise requires: 
 (a) capitalized terms used in this Guarantee but not defined in the preamble above have the respective meanings assigned to them in this Section 1.1;

 (b) a term defined anywhere in this Guarantee has the same meaning throughout; 
  

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 (c) all references to “the Guarantee” or “this Guarantee” are to this Guarantee as
modified, supplemented or amended from time to time; 
 (d) all references in this Guarantee to Articles, Sections and Recitals are to
Articles, Sections and Recitals of this Guarantee, unless otherwise specified; 
 (e) unless otherwise defined in this Guarantee, a term
defined in the Trust Indenture Act has the same meaning when used in this Guarantee; 
 (f) a reference to the singular includes the plural
and vice versa and a reference to any masculine form of a term shall include the feminine form of a term, as applicable; and 
 (g) the
following terms have the following meanings: 
 “Affiliate“ has the same meaning as given to that term in Rule 405 of
the Securities Act of 1933, as amended, or any successor rule thereunder. 
 “Business Day“ has the meaning specified in the
Declaration of Trust. 
 “Capital Securities“ has the meaning specified in the Recitals hereto. 
 “Common Securities“ has the meaning specified in the Recitals hereto. 
 “Common Stock“ means the common stock, par value $0.01 per share, of the Guarantor. 
 “Corporate Trust Office“ means the principal office of the Guarantee Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of execution of this Guarantee is located at The Bank of New York, 2 North LaSalle Street, Suite 1020, Chicago, Illinois 60602. 
 “Declaration of Trust“ means the Amended and Restated Declaration of Trust, dated as of the date hereof, as amended, modified or
supplemented from time to time, among the trustees of the Trust named therein, the Guarantor, as sponsor, and the Holders, from time to time, of undivided beneficial ownership interests in the assets of the Trust. 
 “First Supplemental Indenture“ means the First Supplemental Indenture, dated as of June 6, 2006, between Capital One Financial
Corporation and The Bank of New York (the “Indenture Trustee”). 
 “Global Security“ means a fully registered,
global Capital Security, as defined in the Indenture, representing the Capital Securities. 
 “Guarantee Event of Default“
means a default by the Guarantor on any of its payment or other obligations under this Guarantee. 
 “Guarantee Payments“
means the following payments or distributions, without duplication, with respect to the Securities, to the extent not paid by or on behalf of the Trust: 

  

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(i) any accrued and unpaid Distributions (as defined in the Declaration of Trust) that are required to be paid on such Securities to the extent the
Trust has sufficient funds available therefor at the time, (ii) the redemption price, plus all accrued and unpaid Distributions to the date of redemption, with respect to any Securities called for redemption by the Trust, to the extent the
Trust shall have sufficient funds available therefor at the time or (iii) upon a voluntary or involuntary dissolution, winding-up or termination of the Trust (other than in connection with the distribution of Notes to the Holders in exchange
for Securities as provided in the Declaration of Trust), the lesser of (a) the aggregate of the liquidation amount and all accrued and unpaid Distributions on the Securities to the date of payment, to the extent the Trust has sufficient funds
available therefor and (b) the amount of assets of the Trust remaining available for distribution to Holders in liquidation of the Trust (in either case, the “Liquidation Distribution”). 
 “Guarantee Trustee“ means The Bank of New York, until a Successor Guarantee Trustee has been appointed and has accepted such appointment
pursuant to the terms of this Guarantee and thereafter means each such Successor Guarantee Trustee. 
 “Holder“ means any
holder of Securities, as registered on the books and records of the Trust; provided, however, that, in determining whether the Holders of the requisite percentage of Capital Securities have given any request, notice, consent or waiver
hereunder, “Holder” shall not include the Guarantor or any Affiliate of the Guarantor or any other obligor on the Capital Securities. 
 “Indenture“ means the Junior Subordinated Indenture, dated as of June 6, 2006, between Capital One Financial Corporation and The Bank of New York (the “Indenture Trustee”), as supplemented by the First
Supplemental Indenture, and any indenture supplemental thereto pursuant to which the Notes are to be issued to the Institutional Trustee, as defined in the Declaration of Trust. 
 “List of Holders“ has the meaning assigned to it in Section 2.2 hereof. 
 “Majority in Liquidation Amount“ means, except as provided in the terms of the Capital Securities or by the Trust Indenture Act,
Holder(s) of outstanding Securities, voting together as a single class, or, as the context may require, Holders of outstanding Capital Securities or Holders of outstanding Common Securities, voting separately as a class, who are the record owners of
more than 50% of the aggregate liquidation amount (including the stated amount that would be paid on redemption, liquidation or otherwise, plus accrued and unpaid Distributions to the date upon which the voting percentages are determined) of all
outstanding Securities of the relevant class. In determining whether the Holders of the requisite amount of Securities have voted, Securities which are owned by the Guarantor or any Affiliate of the Guarantor or any other obligor on the Securities
shall be disregarded for the purpose of any such determination. 
 “Notes“ means the series of 7.50% Junior Subordinated
Notes due 2066 designated the “7.50% Junior Subordinated Notes due 2066”, held by the Institutional Trustee as defined in the Declaration of Trust. 
  

 3 

 “Officers’ Certificate“ means, with respect to any Person, a certificate signed on
behalf of such Person by two Authorized Officers (as defined in the Declaration of Trust) of such Person. Any Officers’ Certificate delivered with respect to compliance with a condition or covenant provided for in this Guarantee shall include:

 (i) a statement that each officer signing the Officers’ Certificate has read the covenant or condition and the
definitions relating thereto; 
 (ii) a brief statement of the nature and scope of the examination or investigation undertaken
by each officer on behalf of such Person in rendering the Officers’ Certificate; 
 (iii) a statement that each such
officer has made such examination or investigation as, in such officer’s opinion, is necessary to enable such officer on behalf of such Person to express an informed opinion as to whether or not such covenant or condition has been complied
with; and 
 (iv) a statement as to whether, in the opinion of each such officer acting on behalf of such Person, such
condition or covenant has been complied with. 
 “Person“ means a legal person, including any individual, corporation,
estate, partnership, joint venture, association, joint stock company, limited liability company, trust, unincorporated association, or government or any agency or political subdivision thereof, or any other entity of whatever nature. 
 “Redemption Price“ has the meaning specified in the Declaration of Trust. 
 “Responsible Officer“ means, with respect to the Guarantee Trustee, any officer with direct responsibility for the administration of
this Guarantee and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of that officer’s knowledge of and familiarity with the particular subject. 
 “Securities“ has the meaning specified in the Recitals hereto. 
 “Successor Guarantee Trustee“ means a successor Guarantee Trustee possessing the qualifications to act as Guarantee Trustee under
Section 4.1. 
 “Trust Enforcement Event“ in respect of the Securities means an Event of Default (as defined in the
Indenture) has occurred and is continuing in respect of the Notes. 
 “Trust Indenture Act“ means the Trust Indenture Act of
1939, as amended from time to time, or any successor legislation. 
  

 4 

 ARTICLE II 
 TRUST INDENTURE ACT 
 SECTION 2.1 TRUST INDENTURE ACT; APPLICATION. 
 (a) This Guarantee is subject to the provisions of the Trust Indenture Act that are required to be part of this Guarantee and shall, to the extent
applicable, be governed by such provisions. 
 (b) If and to the extent that any provision of this Guarantee limits, qualifies or conflicts
with the duties imposed by Sections 310 to 317, inclusive, of the Trust Indenture Act, such imposed duties shall control. 
 SECTION 2.2 LISTS OF HOLDERS OF SECURITIES. 
 (a) The Guarantor shall provide the Guarantee Trustee (i) except
while the Capital Securities are represented by one or more Global Securities, at least two Business Days prior to the date for payment of Distributions, a list, in such form as the Guarantee Trustee may reasonably require, of the names and
addresses of the Holders of the Securities (“List of Holders”) as of the record date relating to the payment of such Distributions, and (ii) at any other time, within 30 days of receipt by the Guarantor of a written request from
the Guarantee Trustee for a List of Holders as of a date no more than 15 days before such List of Holders is given to the Guarantee Trustee; provided that the Guarantor shall not be obligated to provide such List of Holders at any time
the List of Holders does not differ from the most recent List of Holders given to the Guarantee Trustee by the Guarantor. The Guarantee Trustee shall preserve, in as current a form as is reasonably practicable, all information contained in Lists of
Holders given to it, provided that the Guarantee Trustee may destroy any List of Holders previously given to it on receipt of a new List of Holders. 
 (b) The Guarantee Trustee shall comply with its obligations under Sections 311(a), 311(b) and 312(b) of the Trust Indenture Act. 
 SECTION 2.3 REPORTS BY GUARANTEE TRUSTEE. 
 Within 60 days after June 6 of each year
(commencing with the year of the first anniversary of the issuance of the Securities), the Guarantee Trustee shall provide to the Holders of the Securities such reports as are required by Section 313 of the Trust Indenture Act (if any) in the
form and in the manner provided by Section 313 of the Trust Indenture Act. The Guarantee Trustee shall also comply with the requirements of Section 313(d) of the Trust Indenture Act. 
 SECTION 2.4 PERIODIC REPORTS TO GUARANTEE TRUSTEE. 
 The Guarantor shall provide to the Guarantee Trustee such documents, reports and information as required by Section 314(a) (if any) of the Trust Indenture Act and the compliance certificate required by
Section 314(a) of the Trust Indenture Act in the form, in the manner and at the times required by Section 314(a) of the Trust Indenture Act, but in no event later than 120 days after the end of each calendar year. 
  

 5 

 SECTION 2.5 EVIDENCE OF COMPLIANCE WITH CONDITIONS PRECEDENT. 
 The Guarantor shall provide to the Guarantee Trustee such evidence of compliance with any conditions precedent, if any, provided for in this Guarantee
that relate to any of the matters set forth in Section 314(c) of the Trust Indenture Act. Any certificate or opinion required to be given by an officer pursuant to Section 314(c)(1) may be given in the form of an Officers’
Certificate. 
 SECTION 2.6 GUARANTEE EVENT OF DEFAULT; WAIVER. 
 The Holders of a Majority in Liquidation Amount of the Capital Securities may, by vote or written consent, on behalf of the Holders of all of the
Securities, waive any past Guarantee Event of Default and its consequences. Upon such waiver, any such Guarantee Event of Default shall cease to exist, and any Guarantee Event of Default arising therefrom shall be deemed to have been cured, for
every purpose of this Guarantee, but no such waiver shall extend to any subsequent or other default or Guarantee Event of Default or impair any right consequent thereon. 
 SECTION 2.7 GUARANTEE EVENT OF DEFAULT; NOTICE. 
 (a) The Guarantee Trustee shall, within
90 days after the occurrence of a Guarantee Event of Default actually known to a Responsible Officer of the Guarantee Trustee, transmit by mail, first class postage prepaid, to the Holders of the Securities, notices of all such Guarantee Events
of Default, unless such defaults have been cured before the giving of such notice; provided, that the Guarantee Trustee shall be protected in withholding such notice if and so long as a Responsible Officer of the Guarantee Trustee in good
faith determines that the withholding of such notice is in the interests of the Holders of the Securities. 
 (b) The Guarantee Trustee shall
not be deemed to have knowledge of any Guarantee Event of Default unless the Guarantee Trustee shall have received written notice thereof or a Responsible Officer of the Guarantee Trustee charged with the administration of this Guarantee Agreement
shall have obtained actual knowledge thereof. 
 SECTION 2.8 CONFLICTING INTERESTS. 
 The Declaration of Trust shall be deemed to be specifically described in this Guarantee for the purposes of clause (i) of the first proviso contained
in Section 310(b) of the Trust Indenture Act. 
 SECTION 2.9 DISCLOSURE OF INFORMATION. 
 The disclosure of information as to the names and addresses of the Holders of the Securities in accordance with Section 312 of the Trust Indenture
Act, regardless of the source 

  

 6 

 
from which such information was derived, shall not be deemed to be a violation of any existing law, or any law hereafter enacted which does not specifically
refer to Section 312 of the Trust Indenture Act, nor shall the Guarantee Trustee be held accountable by reason of mailing any material pursuant to a request made under Section 312(b) of the Trust Indenture Act. 
 SECTION 2.10 GUARANTEE TRUSTEE MAY FILE PROOFS OF CLAIM. 
 Upon the occurrence of a Guarantee Event of Default, the Guarantee Trustee is hereby authorized to (a) recover judgment, in its own name and as trustee of an express trust, against the Guarantor for the whole
amount of any Guarantee Payments remaining unpaid and (b) file such proofs of claim and other papers or documents as may be necessary or advisable in order to have its claims and those of the Holders of the Securities allowed in any judicial
proceedings relative to the Guarantor, its creditors or its property. 
 ARTICLE III 
 POWERS, DUTIES AND RIGHTS OF GUARANTEE TRUSTEE 
 SECTION 3.1 POWERS AND DUTIES
OF GUARANTEE TRUSTEE. 
 (a) This Guarantee shall be held by the Guarantee Trustee on behalf of the Trust for the benefit of the Holders
of the Securities, and the Guarantee Trustee shall not transfer this Guarantee to any Person except a Holder of Securities exercising his or her rights pursuant to Section 5.4(b) or to a Successor Guarantee Trustee on acceptance by such
Successor Guarantee Trustee of its appointment to act as Successor Guarantee Trustee. The right, title and interest of the Guarantee Trustee in and to this Guarantee shall automatically vest in any Successor Guarantee Trustee, and such vesting and
succession of title shall be effective whether or not conveyance documents have been executed and delivered pursuant to the appointment of such Successor Guarantee Trustee. 
 (b) If a Guarantee Event of Default actually known to a Responsible Officer of the Guarantee Trustee has occurred and is continuing, the Guarantee
Trustee shall enforce this Guarantee for the benefit of the Holders of the Securities. 
 (c) The Guarantee Trustee, before the occurrence of
any Guarantee Event of Default and after the curing of all Guarantee Events of Default that may have occurred, shall undertake to perform only such duties as are specifically set forth in this Guarantee, and no implied covenants shall be read into
this Guarantee against the Guarantee Trustee. In case a Guarantee Event of Default has occurred (that has not been cured or waived pursuant to Section 2.6) and is actually known to a Responsible Officer of the Guarantee Trustee, the Guarantee
Trustee shall exercise such of the rights and powers vested in it by this Guarantee, and use the same degree of care and skill in its exercise thereof, as a prudent person would exercise or use under the circumstances in the conduct of his or her
own affairs. 
  

 7 

 (d) No provision of this Guarantee shall be construed to relieve the Guarantee Trustee from liability for
its own negligent action, its own negligent failure to act, or its own willful misconduct, except that: 
 (i) prior to the
occurrence of any Guarantee Event of Default and after the curing or waiving of all such Guarantee Events of Default that may have occurred: 
 (A) the duties and obligations of the Guarantee Trustee shall be determined solely by the express provisions of this Guarantee, and the Guarantee Trustee shall not be liable except for the performance of such duties
and obligations as are specifically set forth in this Guarantee, and no implied covenants or obligations shall be read into this Guarantee against the Guarantee Trustee; and 
 (B) in the absence of bad faith on the part of the Guarantee Trustee, the Guarantee Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed therein, upon any certificates or opinions furnished to the Guarantee Trustee and conforming to the requirements of this Guarantee; but in the case of any such certificates or opinions that by
any provision hereof are specifically required to be furnished to the Guarantee Trustee, the Guarantee Trustee shall be under a duty to examine the same to determine whether or not they conform to the requirements of this Guarantee (but need not
confirm or investigate the accuracy of mathematical calculation or other facts stated therein, absent manifest error); 
 (ii)
the Guarantee Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the Guarantee Trustee, unless it shall be proved that the Guarantee Trustee was negligent in ascertaining the pertinent facts upon
which such judgment was made; 
 (iii) the Guarantee Trustee shall not be liable with respect to any action taken or omitted
to be taken by it in good faith in accordance with the direction of the Holders of not less than a Majority in Liquidation Amount of the Securities relating to the time, method and place of conducting any proceeding for any remedy available to the
Guarantee Trustee, or exercising any trust or power conferred upon the Guarantee Trustee under this Guarantee; and 
 (iv) no
provision of this Guarantee shall require the Guarantee Trustee to expend or risk its own funds or otherwise incur personal financial liability in the performance of any of its duties or in the exercise of any of its rights or powers, if the
Guarantee Trustee shall have reasonable grounds for believing that the repayment of such funds or liability is not reasonably assured to it under the terms of this Guarantee or if the Guarantee Trustee shall have reasonable grounds for believing
that an indemnity, reasonably satisfactory to the Guarantee Trustee, against such risk or liability is not reasonably assured to it under the terms of this Guarantee. 
  

 8 

 SECTION 3.2 CERTAIN RIGHTS OF GUARANTEE TRUSTEE. 
 (a) Subject to the provisions of Section 3.1: 
 (i) The Guarantee Trustee may conclusively rely, and shall be fully protected in acting or refraining from acting upon, any resolution, certificate, statement, instrument, opinion, report, notice, request, direction,
consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document believed by it to be genuine and to have been signed, sent or presented by the proper party or parties; 
 (ii) Any direction or act of the Guarantor contemplated by this Guarantee shall be sufficiently evidenced by an Officers’
Certificate; 
 (iii) Whenever, in the administration of this Guarantee, the Guarantee Trustee shall deem it desirable that a
matter be proved or established before taking, suffering or omitting any action hereunder, the Guarantee Trustee (unless other evidence is herein specifically prescribed) may, in the absence of bad faith on its part, request and conclusively rely
upon an Officers’ Certificate which, upon receipt of such request, shall be promptly delivered by the Guarantor; 
 (iv)
The Guarantee Trustee shall have no duty to see to any recording, filing or registration or any instrument (or any re-recording, re-filing or re-registration thereof); 
 (v) The Guarantee Trustee may consult with counsel, and the advice or opinion of such counsel with respect to legal matters shall be full
and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in accordance with such advice or opinion. Such counsel may be counsel to the Guarantor or any of its Affiliates and may
include any of its employees. The Guarantee Trustee shall have the right at any time to seek instructions concerning the administration of this Guarantee from any court of competent jurisdiction; 
 (vi) The Guarantee Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this Guarantee at the
request or direction of any Holder, unless such Holder shall have provided to the Guarantee Trustee such security and indemnity, reasonably satisfactory to the Guarantee Trustee, against the costs, expenses (including attorneys’ fees and
expenses and the expenses of the Guarantee Trustee’s agents, nominees or custodians) and liabilities that might be incurred by it in complying with such request or direction, including such reasonable advances as may be requested by the
Guarantee Trustee; provided, that nothing contained in this Section 3.2(a)(vi) shall be taken to relieve the Guarantee Trustee, upon the occurrence of a Guarantee Event of Default, of its obligation to exercise the rights and powers
vested in it by this Guarantee; 
 (vii) The Guarantee Trustee shall not be bound to make any investigation into the facts or
matters stated in any resolution, certificate, statement, instrument, opinion, report, notice, request, direction, consent, order, bond, debenture, note, other evidence of indebtedness or other paper or document, but the Guarantee Trustee, in its
discretion, 

  

 9 

 
may make such reasonable further inquiry or investigation into such facts or matters as it may see fit at the expense of the Guarantor and shall incur no
liability of any kind by reason of such inquiry or investigation; 
 (viii) The Guarantee Trustee may execute any of the
trusts or powers hereunder or perform any duties hereunder either directly or by or through agents, nominees, custodians or attorneys, and the Guarantee Trustee shall not be responsible for any misconduct or negligence on the part of any agent or
attorney appointed with due care by it hereunder; 
 (ix) Any action taken by the Guarantee Trustee or its agents hereunder
shall bind the Holders, and the signature of the Guarantee Trustee or its agents alone shall be sufficient and effective to perform any such action. No third party shall be required to inquire as to the authority of the Guarantee Trustee to so act
or as to its compliance with any of the terms and provisions of this Guarantee, both of which shall be conclusively evidenced by the Guarantee Trustee’s or its agent’s taking such action; and 
 (x) Whenever in the administration of this Guarantee, the Guarantee Trustee shall deem it desirable to receive instructions with respect
to enforcing any remedy or right or taking any other action hereunder, the Guarantee Trustee (i) may request written instructions from the Holders of a Majority in Liquidation Amount of the Securities, (ii) may refrain from enforcing such
remedy or right or taking such other action until such written instructions are received and (iii) shall be protected in conclusively relying on or acting in accordance with such written instructions. 
 (b) No provision of this Guarantee shall be deemed to impose any duty or obligation on the Guarantee Trustee to perform any act or acts or exercise any
right, power, duty or obligation conferred or imposed on it in any jurisdiction in which it shall be illegal, or in which the Guarantee Trustee shall be unqualified or incompetent to act in accordance with applicable law, to perform any such act or
acts or to exercise any such right, power, duty or obligation. No permissive power or authority available to the Guarantee Trustee shall be construed to be a duty. 
 ARTICLE IV 
 GUARANTEE TRUSTEE 
 SECTION 4.1 GUARANTEE TRUSTEE; ELIGIBILITY. 
 (a) There shall be at all times a Guarantee Trustee
which shall: 
 (i) not be an Affiliate of the Guarantor; and 
 (ii) be a corporation organized and doing business under the laws of the United States of America or any state or territory thereof or of
the District of Columbia, or a corporation or other Person permitted by the Securities and Exchange Commission to act as an institutional trustee under the Trust Indenture Act, authorized under such laws to exercise corporate trust powers, having a
combined capital and surplus of at least 

  

 10 

 
50 million U.S. dollars ($50,000,000), and subject to supervision or examination by federal, state, territorial or District of Columbia authority. If
such corporation publishes reports of condition at least annually, pursuant to law or to the requirements of the supervising or examining authority referred to above, then, for the purposes of this Section 4.1(a)(ii), the combined capital and
surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. 
 (b) If at any time the Guarantee Trustee shall cease to be eligible to so act under Section 4.1(a), the Guarantee Trustee shall immediately resign in the manner and with the effect set out in Section 4.2(c).

 (c) If the Guarantee Trustee has or shall acquire any “conflicting interest” within the meaning of Section 310(b) of the
Trust Indenture Act, the Guarantee Trustee and Guarantor shall in all respects comply with the provisions of Section 310(b) of the Trust Indenture Act. 
 SECTION 4.2 APPOINTMENT, REMOVAL AND RESIGNATION OF GUARANTEE TRUSTEE. 
 (a) Subject to
Section 4.2(b), unless a Guarantee Event of Default shall have occurred and be continuing, the Guarantee Trustee may be appointed or removed with or without cause at any time by the Guarantor. 
 (b) The Guarantee Trustee shall not be removed in accordance with Section 4.2(a) until a Successor Guarantee Trustee has been appointed and has
accepted such appointment by written instrument executed by such Successor Guarantee Trustee and delivered to the Guarantor. 
 (c) The
Guarantee Trustee appointed to office shall hold such office until a Successor Guarantee Trustee shall have been appointed or until its removal or resignation. The Guarantee Trustee may resign from office (without need for prior or subsequent
accounting) by an instrument in writing executed by the Guarantee Trustee and delivered to the Guarantor, which resignation shall not take effect until a Successor Guarantee Trustee has been appointed and has accepted such appointment by instrument
in writing executed by such Successor Guarantee Trustee and delivered to the Guarantor and the resigning Guarantee Trustee. 
 (d) If no
Successor Guarantee Trustee shall have been appointed and accepted appointment as provided in this Section 4.2 within 60 days after delivery to the Guarantor of an instrument of removal or resignation, the removed or resigning Guarantee
Trustee may petition at the expense of the Guarantor any court of competent jurisdiction for appointment of a Successor Guarantee Trustee. Such court may thereupon, after prescribing such notice, if any, as it may deem proper, appoint a Successor
Guarantee Trustee. 
 (e) No Guarantee Trustee shall be liable for the acts or omissions to act of any Successor Guarantee Trustee.

  

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 (f) Upon termination of this Guarantee or removal or resignation of the Guarantee Trustee pursuant to
this Section 4.2, the Guarantor shall pay to the Guarantee Trustee all amounts owing for fees and reimbursement of expenses that have accrued to the date of such termination, removal or resignation. 
 ARTICLE V 
 GUARANTEE 
 SECTION 5.1 GUARANTEE. 
 The
Guarantor irrevocably and unconditionally agrees to pay in full to the Holders the Guarantee Payments (without duplication of amounts theretofore paid by the Trust), as and when due, regardless of any defense, right of set-off or counterclaim that
the Trust may have or assert. The Guarantor’s obligation to make a Guarantee Payment may be satisfied by direct payment of the required amounts by the Guarantor to the Holders or by causing the Trust to pay such amounts to the Holders.
Notwithstanding anything to the contrary herein, the Guarantor retains all of its rights under the Indenture to defer the interest payments on the Notes pursuant to the terms thereof and the Guarantor shall not be obligated hereunder to make any
Guarantee Payments during any Optional Deferral Period or New Equity Settlement Period (as defined in the Indenture) with respect to the Distributions (as defined in the Declaration of Trust) on the Securities. 
 SECTION 5.2 WAIVER OF NOTICE AND DEMAND.  
 The Guarantor hereby waives notice of acceptance of this Guarantee and of any liability to which it applies or may apply, presentment, demand for payment, any right to require a proceeding first against the Trust or
any other Person before proceeding against the Guarantor, protest, notice of nonpayment, notice of dishonor, notice of redemption and all other notices and demands. 
 SECTION 5.3 OBLIGATIONS NOT AFFECTED. 
 The obligations, covenants, agreements and duties of the
Guarantor under this Guarantee shall be absolute and unconditional and shall remain in full force and effect until the entire liquidation amount of all outstanding Securities shall have been paid and such obligation shall in no way be affected or
impaired by reason of the happening from time to time of any event, including, without limitation, the following, whether or not with notice to, or the consent of, the Guarantor: 
 (a) The release or waiver, by operation of law or otherwise, of the performance or observance by the Trust of any express or implied agreement, covenant,
term or condition relating to the Securities to be performed or observed by the Trust; 
 (b) The extension of time for the payment by the
Trust of all or any portion of the Distributions, Redemption Price, Liquidation Distribution or any other sums payable under the terms of the Securities or the extension of time for the performance of any other obligation 

  

 12 

 
under, arising out of, or in connection with the Securities (other than an extension of time for payment of Distributions, Redemption Price, Liquidation
Distribution or other sum payable that results from the extension of any interest payment period on the Notes); 
 (c) Any failure, omission,
delay or lack of diligence on the part of the Institutional Trustee or the Holders to enforce, assert or exercise any right, privilege, power or remedy conferred on the Institutional Trustee or the Holders pursuant to the terms of the Securities, or
any action on the part of the Trust granting indulgence or extension of any kind; 
 (d) The voluntary or involuntary liquidation,
dissolution, sale of any collateral, receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition or readjustment of debt of, or other similar proceedings affecting, the Trust or any of the
assets of the Trust; 
 (e) Any invalidity of, or defect or deficiency in, the Securities; 
 (f) The settlement or compromise of any obligation guaranteed hereby or hereby incurred; or 
 (g) Any other circumstance whatsoever that might otherwise constitute a legal or equitable discharge or defense of a guarantor, it being the intent of
this Section 5.3 that the obligations of the Guarantor hereunder shall be absolute and unconditional under any and all circumstances. 
 There shall be no obligation of the Guarantee Trustee or the Holders to give notice to, or obtain consent of the Guarantor or any other Person with respect to the happening of any of the foregoing. 
 No setoff, counterclaim, reduction or diminution of any obligation, or any defense of any kind or nature that the Guarantor has or may have against any
Holder shall be available hereunder to the Guarantor against such Holder to reduce the payments to it under this Guarantee. 
 SECTION 5.4 RIGHTS OF HOLDERS. 
 (a) The Holders of at least a Majority in Liquidation Amount of the Securities have the
right to direct the time, method and place of conducting any proceeding for any remedy available to the Guarantee Trustee in respect of this Guarantee or to direct the exercise of any trust or power conferred upon the Guarantee Trustee under this
Guarantee. 
 (b) If the Guarantee Trustee fails to enforce this Guarantee, then any Holder of Securities may, subject to the subordination
provisions of Section 6.2, institute a legal proceeding directly against the Guarantor to enforce the Guarantee Trustee’s rights under this Guarantee without first instituting a legal proceeding against the Trust, the Guarantee Trustee or
any other person or entity. In addition, if the Guarantor has failed to make a Guarantee Payment, a Holder of Securities may, subject to the subordination provisions of Section 6.2, directly institute a proceeding against the Guarantor for
enforcement of the Guarantee for such payment 

  

 13 

 
to the Holder of the Securities of the principal of or interest on the Notes on or after the respective due dates specified in the Notes, and the amount of
the payment will be based on the Holder’s pro rata share of the amount due and owing on all of the Securities. The Guarantor hereby waives any right or remedy to require that any action on this Guarantee be brought first against the
Trust or any other person or entity before proceeding directly against the Guarantor. 
 SECTION 5.5 GUARANTEE OF PAYMENT.

 This Guarantee creates a guarantee of payment and not of collection. 
 SECTION 5.6 SUBROGATION. 
 The
Guarantor shall be subrogated to all (if any) rights of the Holders of Securities against the Trust in respect of any amounts paid to such Holders by the Guarantor under this Guarantee; provided, however, that the Guarantor shall not (except to the
extent required by mandatory provisions of law) be entitled to enforce or exercise any right that it may acquire by way of subrogation or any indemnity, reimbursement or other agreement, in all cases as a result of payment under this Guarantee, if
at the time of any such payment, any amounts are due and unpaid under this Guarantee. If any amount shall be paid to the Guarantor in violation of the preceding sentence, the Guarantor agrees to hold such amount in trust for the Holders and to pay
over such amount to the Guarantee Trustee for the benefit of the Holders. 
 SECTION 5.7 INDEPENDENT OBLIGATIONS. 
 The Guarantor acknowledges that its obligations hereunder are independent of the obligations of the Trust with respect to the Securities, and that the
Guarantor shall be liable as principal and as debtor hereunder to make Guarantee Payments pursuant to the terms of this Guarantee notwithstanding the occurrence of any event referred to in subsections 5.3(a) through 5.3(g), inclusive, hereof.

 ARTICLE VI 
 LIMITATION OF
TRANSACTIONS; SUBORDINATION 
 SECTION 6.1 LIMITATION OF TRANSACTIONS. 
 So long as any Securities remain outstanding, (i) if there shall have occurred an Event of Default (as defined in the Indenture) with respect to the
Notes, (ii) if there shall have occurred a Guarantee Event of Default or (iii) during any Optional Deferral Period or New Equity Settlement Period as provided in the Indenture, then the Guarantor shall not, and shall not permit any
subsidiary of the Guarantor, to (x) declare or pay any dividends or distributions on, or redeem, purchase, acquire or make a liquidation payment with respect to, any of the Guarantor’s capital stock or the capital stock of any subsidiary
of the Guarantor (y) make any payment of principal, interest or premium, if any, on or repay, repurchase or redeem any debt securities of the Guarantor that rank pari passu with or junior in interest to the Notes or (z) make any
guarantee payments with respect to any guarantee by the Guarantor of the debt securities of any subsidiary of the Guarantor if such guarantee ranks pari passu with or junior in interest to the 

  

 14 

 
Notes (other than (a) dividends or distributions in paid in additional shares of capital stock of the Guarantor, (b) any declaration or payment of
a dividend in connection with the implementation of a shareholders’ rights plan or the issuance of stock under any such plan or the redemption or repurchase of any such rights pursuant thereto, (c) payments under this Guarantee,
(d) purchases of Common Stock related to the issuance of Common Stock or rights under any of the Company’s benefits plans for its directors, officers or employees and (e) solely in the case of any controlled subsidiary of the
Guarantor, any declaration or distribution on the capital stock of such subsidiary to the Guarantor or an Affiliate of the Guarantor). 
 SECTION 6.2 RANKING. 
 This Guarantee will constitute an unsecured obligation of the Guarantor and will rank subordinate
and junior in right of payment to all Senior Indebtedness (as defined in Section 2.1(r) of the First Supplemental Indenture) of the Guarantor in the same manner and to the same extent as set forth in Article XIV of the Indenture.

 SECTION 6.3 SUBORDINATION OF COMMON SECURITIES. 
 If a Trust Enforcement Event has occurred and is continuing under the Declaration of Trust, the rights of the holders of the Common Securities to receive Guarantee Payments hereunder shall be subordinated to the
rights of the Holders of the Capital Securities to receive Guarantee Payments under this Guarantee. 
 ARTICLE VII 
 TERMINATION 
 SECTION 7.1
TERMINATION. 
 This Guarantee shall terminate upon (i) full payment of the Redemption Price of all Securities,
(ii) distribution of the Notes to the Holders of all the Securities or (iii) full payment of the amounts payable in accordance with the Declaration of Trust upon liquidation of the Trust. Notwithstanding the foregoing, this Guarantee will
continue to be effective or will be reinstated, as the case may be, if at any time any Holder of Securities must restore payment of any sums paid under the Securities or under this Guarantee. 
 ARTICLE VIII 
 INDEMNIFICATION 
 SECTION 8.1 INDEMNIFICATION. 
 The Guarantor agrees to indemnify each Note Issuer Indemnified Person, the Institutional Trustee and the Delaware Trustee (as each such term is defined in the Declaration of Trust) for, and to hold each such Person harmless against any
loss, claim, damage, liability or expense incurred without negligence or bad faith on its part, arising out of or in connection with the acceptance or administration of the trust or trusts hereunder, including the reasonable costs and 

  

 15 

 
expenses of defending itself against, or investigating, any claim or liability in connection with the exercise or performance of any of its powers or duties
hereunder. The provisions of this Section 8.1 shall survive the termination of this Guarantee or the resignation or removal of the Guarantee Trustee. 
 ARTICLE IX 
 MISCELLANEOUS 
 SECTION 9.1 SUCCESSORS AND ASSIGNS. 
 All guarantees and agreements contained in this Guarantee
shall bind the successors, assigns, receivers, trustees and representatives of the Guarantor and shall inure to the benefit of the Holders of the Securities then outstanding. Except in connection with a consolidation, merger or sale involving the
Guarantor that is permitted under Article VIII of the Indenture and pursuant to which the successor or assignee agrees in writing to perform the Guarantor’s obligations hereunder, the Guarantor shall not assign its obligations hereunder.

 SECTION 9.2 AMENDMENTS. 
 Except with respect to any changes that do not materially adversely affect the rights of the Holders (in which case no consent of the Holders will be required), this Guarantee may not be amended without the prior approval of the Holders of
not less than a Majority in Liquidation Amount of the Securities. The provisions of Section 11.2 of the Declaration of Trust with respect to meetings of, and action by written consent of, the Holders of the Securities apply to the giving of
such approval. 
 SECTION 9.3 NOTICES. 
 All notices provided for in this Guarantee shall be in writing, duly signed by the party giving such notice, and shall be delivered by hand, telecopied or mailed by registered or certified mail, as follows:

 (a) If given to the Guarantee Trustee, at the Guarantee Trustee’s mailing address set forth below (or such other address as the
Guarantee Trustee may give notice of to the Guarantor and the Holders of the Securities): 
 The Bank of New York 

2 North LaSalle Street, Suite 1020 
 Chicago, Illinois 60602 
 Facsimile No.: (312) 827-8542 
 Attention: Corporate Trust Administration 
 (b) If given to the Guarantor, at the Guarantor’s mailing addresses set forth below (or such other address as the Guarantor may give notice of to the Guarantee Trustee and the Holders of the Securities):

 Capital One Financial Corporation 
 1680 Capital One Drive 
 McLean, Virginia 22102 
 Facsimile No.: (703) 720-2165 
 Attention: Director of Capital Markets 
  

 16 

 (c) If given to any Holder of Securities, at the address set forth on the books and records of the Trust.

 All such notices shall be deemed to have been given when received in person, telecopied with receipt confirmed, or mailed by first class
mail, postage prepaid, except that if a notice or other document is refused delivery or cannot be delivered because of a changed address of which no notice was given, such notice or other document shall be deemed to have been delivered on the date
of such refusal or inability to deliver. 
 SECTION 9.4 BENEFIT. 
 This Guarantee is solely for the benefit of the Holders of the Securities and, subject to Section 3.1(a), is not separately transferable from the
Securities. 
 SECTION 9.5 GOVERNING LAW. 
 THIS GUARANTEE SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. 
 [The remainder of this page left blank intentionally; the signature page follows.] 
  

 17 

 IN WITNESS WHEREOF, this Guarantee is executed as of the day and year first above written. 
  

			
	CAPITAL ONE FINANCIAL CORPORATION,
	as Guarantor
		
	By:	 	 /s/ Stephen Linehan

	Name:	 	Stephen Linehan
	Title:	 	Senior Vice President and Treasurer
	
	 THE BANK OF NEW YORK,
 as Guarantee
Trustee

		
	By:	 	 /s/ Van K. Brown

	Name:	 	Van K. Brown
	Title:	 	Vice President

  

 181989 Employee Stock Participation Plan and related Offering documents

 Exhibit 10.1 
 EXAR CORPORATION 
 EMPLOYEE STOCK PARTICIPATION PLAN 
 Adopted August 1, 1989 
 Effective January 1, 1990 
 Amended through August 2, 1991 
 Amended through June 24, 1999 
 Amended through October 1, 2002 
 Amended through April 1, 2006 
 1. PURPOSE. 
 (a) The purpose of the Plan is to
provide a means by which employees of Exar Corporation, a Delaware corporation (the “Company”), and its Affiliates, as defined in subparagraph 1(b), which are designated as provided in subparagraph 2(b), may be given an opportunity to
purchase stock of the Company. 
 (b) The word “Affiliate” as used in the Plan means any parent corporation or subsidiary
corporation of the Company, as those terms are defined in Sections 424(e) and (f), respectively, of the Internal Revenue Code of 1986, as amended (the “Code”). 
 (c) The Company, by means of the Plan, seeks to retain the services of its employees, to secure and retain the services of new employees, and to provide incentives for such persons to exert maximum efforts for the
success of the Company. 
 (d) The Company intends that the rights to purchase stock of the Company granted under the Plan be considered
options issued under an “employee stock purchase plan” as that term is defined in Section 423(b) of the Code. 
 2. ADMINISTRATION.

 (a) The Plan shall be administered by the Board of Directors (the “Board”) of the Company unless and until the Board
delegates administration to a Committee, as provided in subparagraph 2(c). Whether or not the Board has delegated administration, the Board shall have the final power to determine all questions of policy and expediency that may arise in the
administration of the Plan. 
 (b) The Board shall have the power, subject to, and within the limitations of, the Plan: (i) to determine
when and how rights to purchase stock 
  

 1 

 of the Company shall be granted and the provisions of each offering of such rights (which need not be identical);
(ii) to designate from time to time which Affiliates of the Company shall be eligible to participate in the Plan; (iii) to construe and interpret the Plan and rights granted under it, and to establish, amend and revoke rules and
regulations for its administration. The Board, in the exercise of this power, may correction any defect, omission or inconsistency in the Plan, in a manner and to the extent it shall deem necessary or expedient to make the Plan fully effective;
(iv) to amend the Plan as provided in paragraph 13; and (v) generally, to exercise such powers and to perform such acts as the Board deems necessary or expedient to promote the best interests of the Company. 
 (c) The Board may delegate administration of the Plan to a Committee composed of not fewer than two (2) members of the Board (the
“Committee”). If administration is delegated to a Committee, the Committee shall have, in connection with the administration of the Plan, the powers theretofore possessed by the Board, subject, however, to such resolutions, not
inconsistent with the provisions of the Plan, as may be adopted from time to time by the Board. The Board may abolish the Committee at any time and revest in the Board the administration of the Plan. 
 3. SHARES SUBJECT TO THE PLAN. 
 Subject to the
provisions of paragraph 12 relating to adjustments upon changes in stock, the stock that may be sold pursuant to rights granted under the Plan shall not exceed in the aggregate one million (1,000,000) shares of the Company’s common stock
(the “Common Stock”). If any right granted under the Plan shall for any reason terminate without having been exercised, the Common Stock not purchased under such right shall again become available for the Plan. 
 4. GRANT OF RIGHTS; OFFERING. 
 The Board or the
Committee may from time to time grant or provide for the grant of rights to purchase Common Stock of the Company under the Plan to eligible employees (an “Offering”) on a date or dates (the “Offering Date(s)”) selected by the
Board or the Committee. Each Offering shall be in such form and shall contain such terms and conditions as the Board or the Committee shall deem appropriate. If an employee has more than one right outstanding under the Plan, unless he or she
otherwise indicates in agreements or notices delivered hereunder: (1) each agreement or notice delivered by that employee will be deemed to apply to all of his or her rights under the Plan, and (2) a right with a lower exercise price (or
an earlier-granted right, if two rights have identical exercise prices), will be exercised to the fullest possible extent before a right with a higher exercise price (or a later-granted right, if two rights have identical exercise prices) will be
exercised. The provisions of separate Offerings need not be identical, but each Offering shall include (through incorporation of the provisions of this Plan by reference in the Offering or otherwise) the substance of the provisions contained in
paragraphs 5 through 8, inclusive. 
  

 2 

 5. ELIGIBILITY. 
 (a) Rights may be granted only to employees of the Company or, as the Board or the Committee may designate as provided in subparagraph 2(b), to employees of any Affiliate of the Company. Except as provided in
subparagraph 5(b), an employee of the Company or any Affiliate shall not be eligible to be granted rights under the Plan, unless, on the Offering Date, such employee has been in the employ of the Company or any Affiliate for such continuous period
preceding such grant as the Board or the Committee may require, but in no event shall the required period of continuous employment be equal to or greater than two (2) years. In addition, unless otherwise determined by the Board or the
Committee, no employee of the Company or any Affiliate shall be eligible to be granted rights under the Plan, unless, on the Offering Date, such employee’s customary employment with the Company or such Affiliate is at least twenty
(20) hours per week. 
 (b) The Board or the Committee may provide that, each person who, during the course of an Offering, first
becomes an eligible employee of the Company or designated Affiliate will, on a date or dates specified in the Offering which coincides with the day on which such person becomes an eligible employee or occurs thereafter, receive a right under that
Offering, which right shall thereafter be deemed to be a part of that Offering. Such right shall have the same characteristics as any rights originally granted under that Offering, as described herein, except that: (i) the date on which such
right is granted shall be the “Offering Date” of such right for all purposes; (ii) the Purchase Period (as defined below) for such right shall begin on its Offering Date and end coincident with the end of such offering; and
(iii) the Board or the Committee may provide that if such person first becomes an eligible employee within a specified period of time before the end of the Purchase Period (as defined below) for such Offering, he or she will not receive any
right under that Offering. 
 (c) No employees shall be eligible for the grant of any rights under the Plan if, immediately after any such
rights are granted, such employee owns stock possessing five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or of any Affiliate. For purposes of this subparagraph 5(d), the rules of
Section 424(d) of the Code shall apply in determining the stock ownership of any employee, and stock which such employee may purchase under all outstanding rights and options shall be treated as stock owned by such employee. 
 (d) An eligible employee may be granted rights under the Plan only if such rights, together with any other rights granted under “employee stock
purchase plans” of the Company and any Affiliates, as specified by Section 423 (b) (8) 
  

 3 

 of the Code, do not permit such employee’s rights to purchase stock of the Company or any affiliate to accrue at a
rate which exceeds twenty-five thousand dollars ($25,000) of fair market value of such stock (determined at the time such rights are granted) for each calendar year in which such rights are outstanding at any time. 
 6. RIGHTS; PURCHASE PRICE. 
 (a) On each Offering
Date, each eligible employee, pursuant to an offering made under the Plan, shall be granted the right to purchase the number of shares of Common Stock of the Company purchasable with up to fifteen percent (15%) of such employee’s Base
Compensation (as defined in Section 7(a)) during the period which begins on the Offering Date (or such later date as the Board determines for a particular Offering) and ends on the date stated in the Offering, which date shall be no more than
twenty-seven (27) months after the Offering Date (the “Purchase Period”). In connection with each Offering made under this Plan, the Board or the Committee shall specify a maximum number of shares which may be purchased by any
employee as well as a maximum aggregate number of shares which may be purchased by all eligible employees pursuant to such Offering. In addition, in connection with each such Offering, the Board or the Committee may specify a maximum aggregate
number of shares which may be purchased by all eligible employees on any given Exercise Date (as defined in the Offering) under the Offering. If the aggregate purchase of shares upon exercise of rights granted under the Offering would exceed any
such maximum aggregate number, the Board or the Committee shall make a pro rata allocation of the shares available in as nearly a uniform manner as shall be practicable and as it shall deem to be equitable. 
 (b) The purchase price of stock acquired pursuant to rights granted under the Plan shall be equal to ninety-five percent (95%) of the fair market
value of the stock on the last trading day within the Purchase Period. 
 7. PARTICIPATION; WITHDRAWAL; TERMINATION. 
 (a) An eligible employee may become a participant in an Offering by delivering an agreement to the Company within the time specified in the Offering, in
such form as the Company provides. Each such agreement shall authorize payroll deductions of up to fifteen percent (15%) of such employee’s Base Compensation during the Purchase Period. Base Compensation is defined as total cash
compensation exclusive of commissions (other than that of selected sales personnel), bonuses, overtime, allowances, loans, educational assistance and premium pay such as shift differential, but including amounts elected to be deferred by the
employee (that would otherwise have been paid) under the Company’s 401(k) Plan. The payroll deductions made for each participant shall be credited to an account for such participant under the Plan and shall be deposited with the general funds
of the Company. At any time during the 
  

 4 

 Purchase Period a participant may terminate his or her payroll deductions. A participant may reduce, increase or begin
such payroll deductions after the beginning of any Purchase Period only as provided for in the Offering. A participant may not make any additional payments into his or her account unless expressly provided for in the Offering. 
 (b) If a participant terminates his or her payroll deductions, such participant may withdraw from the Offering by delivering to the Company a notice of
withdrawal in such form as the Company provides. Such withdrawal may be elected at any time prior to the end of the Purchase Period. Upon such withdrawal from the offering by a participant, the Company shall distribute to such participant all of his
or her accumulated payroll deductions (reduced to the extent, if any, such deductions have been used to acquire stock for the participant) under the Offering without interest, and such participant’s interest in that Offering shall be
automatically terminated. A participant’s withdrawal from an Offering will have no effect upon such participant’s eligibility to participate in any other Offerings under the Plan but such participant will be required to deliver a new
participation agreement in order to participate in other Offerings under the Plan. 
 (c) Rights granted pursuant to any Offering under the
Plan shall terminate immediately upon cessation of any participating employee’s employment with the Company or an Affiliate, for any reason, and the Company shall distribute to such terminated employee all of his or her accumulated payroll
deductions (reduced to the extent, if any, such deductions have been used to acquire stock for the terminated employee), without interest; provided, however, that subject to the right of the terminated employee to withdraw from the Offering and
receive a distribution of his or her accumulated payroll deductions (as described in paragraph 7(b), in the event that a participating employee’s employment ceases within three (3) months of the next Exercise Date, the balance in such
employee’s account shall be held and used to purchase Common Stock for the terminated employee on such Exercise Date pursuant to the terms of the ongoing Offering. 
 (d) Rights granted under the Plan shall not be transferable, and shall be exercisable only by the person to whom such rights are granted. 
 8. EXERCISE. 
 (a) On each exercise date, as defined in the relevant Offering (an “Exercise
Date”), each participant’s accumulated payroll deductions (without any increase for interest) will be applied to the purchase of whole shares of stock of the Company, up to the maximum number of shares permitted pursuant to the terms of
the Plan and the applicable Offering, at the purchase price specified in the Offering. No fractional shares shall be issued upon the exercise of rights granted under the Plan. The amount, if any, of accumulated payroll deductions 
  

 5 

 remaining in each participant’s account after the purchase of shares which is less than the amount required to
purchase one share of stock on the final Exercise Date of an Offering shall be held in each such participant’s account for the purchase of shares under the next Offering under the Plan, unless such participant withdraws from such next Offering,
as provided in subparagraph 7(b), or is no longer eligible to be granted rights under the Plan, as provided in paragraph 5, in which case such amount shall be distributed to such participant after such Exercise Date, without interest. The amount, if
any, of accumulated payroll deductions remaining in any participant’s account after the purchase of shares which is equal to the amount required to purchase whole shares of stock on the final Exercise Date of an Offering shall be distributed in
full to such participant after such Exercise Date, without interest. 
 (b) No rights granted under the Plan may be exercised to any extent
unless the Plan (including rights granted thereunder) is covered by an effective registration statement pursuant to the Securities Act of 1933, as amended (the “Securities Act”). If, on an Exercise Date of any Offering hereunder, the Plan
is not so registered, no rights granted under the Plan or any Offering shall be exercised and all payroll deductions accumulated during the purchase period shall be distributed to the participants, without interest. 
 9. COVENANTS OF THE COMPANY. 
 (a) During the terms of
the rights granted under the Plan, the Company shall keep available at all times the number of shares of stock required to satisfy such rights. 
 (b) The Company shall seek to obtain from each regulatory commission or agency having jurisdiction over the Plan such authority as may be required to issue and sell shares of stock upon exercise of the rights granted under the Plan. If,
after reasonable efforts, the Company is unable to obtain from any such regulatory commission or agency the authority which counsel for the Company deems necessary for the lawful issuance and sale of stock under the Plan, the Company shall be
relieve from any liability for failure to issue and sell stock upon exercise of such rights unless and until such authority is obtained. 
 10. USE OF
PROCEEDS FROM STOCK. 
 Proceeds from the sale of stock pursuant to rights granted under the Plan shall constitute general funds of the
Company. 
  

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 11. RIGHTS AS A STOCKHOLDER. 
 A participant shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares subject to rights granted under the Plan unless and until certificates representing such
shares shall have been issued. 
 12. ADJUSTMENTS UPON CHANGES IN STOCK. 
 (a) If any change is made in the stock subject to the Plan, or subject to any rights granted under the Plan (through merger, consolidation, reorganization, recapitalization, stock dividend, dividend in property other
than cash, stock split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or otherwise), the Board shall make appropriate adjustments in the maximum number of shares subject to the Plan and the number of
shares and price per share of stock subject to outstanding rights. 
 (b) In the event of: (1) a dissolution or liquidation of the
Company; (2) a merger or consolidation in which the Company is not the surviving corporation; (3) a reverse merger in which the Company is the surviving corporation but the shares of the Company’s Common Stock outstanding immediately
preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash or otherwise; or (4) any other capital reorganization in which more than fifty percent (50%) of the shares of the
Company entitled to vote are exchanged, then, as determined by the Board in its sole discretion, any surviving corporation shall assume outstanding rights or substitute similar rights for those under the Plan, such rights shall continue in full
force and effect, or such rights shall be exercised immediately prior to such event. 
 13. AMENDMENT OF THE PLAN. 
 (a) The Board at any time, and from time to time, may amend the Plan. However, except as provided in paragraph 12 relating to adjustments upon changes in
stock, no amendment shall be effective unless approved by the shareholders of the Company within twelve (12) months before or after the adoption of the amendment, where the amendment will: (i) increase the number of shares reserved for
rights under the Plan; or (ii) modify the provisions as to eligibility for participation in the Plan or modify the Plan in any other way to the extent such modification requires shareholder approval in order for the Plan to obtain employee
stock purchase plan treatment under Section 423 of the Code. It is expressly contemplated that the Board may amend the Plan in any respect the Board deems necessary or advisable to provide eligible employees with the maximum benefits provided
or to be provided under the provisions of the Code and the regulations promulgated thereunder relating to employee stock purchase plans and/or to bring the Plan and/or rights granted under it into compliance therewith. 
  

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 (b) Rights and obligations under any rights granted before amendment of the Plan shall not be altered or
impaired by any amendment of the Plan, except with the consent of the person to whom such rights were granted. 
 14. TERMINATION OR SUSPENSION OF THE
PLAN. 
 (a) The Board may suspend or terminate the Plan at any time. No rights may be granted under the Plan while the Plan is suspended
or after it is terminated. 
 (b) Rights and obligations under any rights granted while the Plan is in effect shall not be altered or
impaired by suspension or termination of the Plan, except with the consent of the person to whom such rights were granted. 
 15. EFFECTIVE DATE OF PLAN.

 The Plan shall become effective as determined by the Board, but no rights granted under the Plan shall be exercised unless and until
the Plan has been approved by the vote of the shareholders of the Company, and, if required, an appropriate permit has been issued by the Commissioner of Corporations of the State of California. 
  

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 EXAR CORPORATION 
 EMPLOYEE STOCK PARTICIPATION PLAN OFFERING 
 Adopted August 1, 1989 
 Effective January 1, 1990 
 Amended through August 2, 1991 
 Amended through June 24, 1999 
 Amended through October 1, 2002 
 Amended through April 1, 2006 
 1. GRANT; OFFERING DATE. 
 The Board of Directors of Exar Corporation, a Delaware corporation (the “Company”), pursuant to the Company’s Employee Stock Participation
Plan (the “Plan”), hereby authorizes the grant of rights to purchase shares of the common stock of the Company (“Common Stock”) to all Eligible Employees effective on January 1st, April 1st, July 1st and October 1st of each year beginning with the calendar year 1990 (the “Offering Dates”). Rights granted under this Offering are intended to qualify as options
issued under an “employee stock purchase plan” as that term is defined in Section 423(b) of the Internal Revenue Code of 1986, as amended (the “Code”). The granting of rights pursuant to each Offering hereunder shall occur
on each respective Offering Date unless, prior to such date (a) the Board of Directors determines that such Offering shall not occur, or (b) no shares remain available for issuance under the Plan in connection with the Offering, or
(c) if required, an appropriate permit has not been issued by the Commissioner of Corporations of the State of California covering the rights to be granted and the shares to be issued in connection with the Offering. 
 2. ELIGIBLE EMPLOYEES. 
 All Eligible Employees of the
Company shall be granted rights to purchase Common Stock under each Offering on the Offering Date of such Offering. “Eligible Employees” are employees of the Company whose customary employment with the Company is at least twenty
(20) hours per week; provided that no employee who is disqualified by subparagraph 5(c) or 5(d) of the Plan shall be an Eligible Employee. 
 3.
RIGHTS. 
 Subject to the limitations contained in the Plan, on each Offering Date each Eligible Employee shall be granted the right to
purchase the number of shares of Common Stock purchasable with up to ten percent (10%) of such employee’s Base Compensation (as defined in the Plan) paid during the purchase period for such Offering. The purchase period for each Offering
shall 
  

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 commence on the Offering Date and end on the next to occur of March 31st, June 30th, September 30th or December 31st (the “Purchase Period”). However, no employee may purchase under any given Offering more than two thousand (2,000) shares of Common Stock, and
the maximum aggregate number of shares available to be purchased by all Eligible Employees under any given Offering is sixty thousand (60,000) shares. If the aggregate purchase of shares of Common Stock upon exercise of rights granted under the
offering would exceed the maximum aggregate number of shares available, the Board shall make a pro rata allocation of the shares available in a uniform and equitable manner. 
 4. PURCHASE PRICE. 
 The purchase price of the Common Stock shall be the equal to ninety-five percent
(95%) of the fair market value of the stock, determined, respectively, based on the average of the low and the high price of the Common Stock on the last trading day within the Purchase Period. 
 5. PARTICIPATION. 
 An Eligible Employee shall become
a participant in an Offering by delivering an agreement authorizing payroll deductions of up to ten (10%) of such employee’s Base Compensation during the period for which such authorization is effective. Such deductions may be in whole
percentages or fixed dollar amounts only, and a participant may not make additional payments into his or her account. The agreement shall be in such form as the Company provides, and must be delivered to the Company at least two weeks prior to the
issuance of the first payroll check for the Purchase Period. A participant may increase or decrease his or her participation percentage during a Purchase Period by delivering notice to the Company, in such form as the Company provides, at least two
weeks prior to the issuance of the payroll check for which it is to be effective. A participant may withdraw from an Offering and receive his or her accumulated payroll deductions (reduced to the extent such deductions have been used to acquire
stock for the participant) by delivering a withdrawal notice to the Company in such form as the Company provides. Upon receipt of such notice, the Company will distribute to the participant as soon as practicable such participant’s accumulated
payroll deductions (reduced to the extent such deductions have been used to acquire stock for the participant), without interest. 
 6. TERMINATION.

 Rights granted under the Offering shall terminate immediately upon cessation of any participating employee’s employment with the
Company for any reason prior to end of the Purchase Period of the Offering and the Company will distribute as soon as practicable such terminated employee’s accumulated payroll deductions (reduced to the extent such deductions have been used to
acquire stock for the participant) to him or her, without interest. 
  

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 7. EXERCISE. 
 On each Exercise Date, each participant’s accumulated payroll deductions (without any increase for interest) shall be applied to the purchase of whole shares of Common Stock, up to the maximum number of shares permitted under the Plan
and the Offering. “Exercise Date” shall be defined as each March 31st, June 30th, September 30th and December 31st or the immediately preceding business day if
any such date is not a business day. The amount of accumulated payroll deductions remaining in each participant’s account at the end of a Purchase Period (after the purchase of shares) which is less than the amount required to purchase one
share of stock on the Exercise Date of such Purchase Period shall be held in each such participant’s account for the purchase of shares under the next Offering under the Plan, unless such participant withdraws from such next Offering or is no
longer eligible to be granted rights under the Plan, in which case such amount shall be distributed as soon as practicable to such participant after the end of the Purchase Period, without interest. The amount, if any, of accumulated payroll
deductions remaining in any participant’s account (after the purchase of shares) which is equal to the amount required to purchase whole shares of stock on the Exercise Date shall be distributed as soon as practicable in full to such
participant after the end of each Purchase Period, without interest. 
 8. TRANSFER. 
 Rights granted under each Offering shall not be transferable, and shall be exercisable only by the person to whom such rights are granted. 
 9. NOTICES AND AGREEMENTS. 
 Any notices or agreements
provided for in an Offering or the Plan shall be given in writing, in a form provided by the Company, and unless specifically provided for in the Plan or this Offering shall be deemed effectively given upon receipt or, in the case of notices and
agreements delivered by the Company, five (5) days after deposit in the United States mail, postage prepaid. 
 10. EXERCISE CONTINGENT ON
REGISTRATION OF PLAN AND SHAREHOLDER APPROVAL. 
 No rights granted under an offering may be exercised to any extent unless the Plan
(including rights granted thereunder) is covered by an effective registration statement pursuant to the Securities Act of 1933, as amended. If on an Exercise Date the Plan is not so registered, no rights granted under the Offering shall be exercised
on such date and all payroll deductions accumulated 
  

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 during the Purchase Period (reduced to the extent such deductions have been used to acquire stock under the Offering)
will be distributed to the participants, without interest. 
 11. OFFERING SUBJECT TO PLAN. 
 Each Offering is subject to all the provisions of the Plan, and its provisions are hereby made a part of the Offering, and is further subject to all
interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of an Offering and those of the Plan (including interpretations,
amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan), the provisions of the Plan shall control. 
  

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