Document:

REGISTRATION RIGHTS AGREEMENT

 Exhibit 10.2 
  
 This REGISTRATION RIGHTS AGREEMENT is made and entered into as of September 29, 2003, by and between GENOME THERAPEUTICS
CORP., a Massachusetts corporation (the “Company”), and the persons listed on Schedule 1 attached hereto (the “Securityholders”). 
  
 The Securityholders have entered into Subscription Agreements with the Company, dated as of the date hereof (the “Subscription Agreements”), in
respect of the issuance and sale to the Securityholders of shares of Common Stock and Warrants (as defined below). The Company and the Securityholders deem it to be in their respective best interests to set forth the rights of the Securityholders in
connection with public offerings and sales of the Registrable Securities (as hereinafter defined). 
  
 NOW, THEREFORE, in consideration of the premises and mutual covenants and obligations hereinafter set forth, the Company and the Securityholders,
intending legally to be bound, hereby agree as follows. 
  
 Section 1.    Definitions. As used in this Agreement, the following terms shall have the following meanings: 
  
 “Affiliate” of any person mans any other person who either directly or indirectly is in control of, is controlled by, or is under common control
with such person. 
  
 “Business Day” shall mean any
Monday, Tuesday, Wednesday, Thursday or Friday that is not a day on which banking institutions in the City of New York or Boston are authorized by law, regulation or executive order to close. 
  
 “Common Stock” shall mean the common stock, par value $0.10 per
share, of the Company. 
  
 “Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended (or any similar successor federal statute), and the rules and regulations thereunder, as the same are in effect from time to time. 
  
 “Closing Date” shall have the meaning set forth in the Subscription Agreements among the Securityholders and the
Company of even date herewith. 
  
 “Holder” shall mean a
Securityholder or any transferee of all or a portion of the Registrable Securities owned by a Securityholder or Holder. For purposes of this Agreement, the Company may deem the registered holder of a Registrable Security as the Holder thereof.

  
 “Material Development Condition” shall have the
meaning set forth in Section 6(a) hereof. 
  
 “Person”
shall mean an individual, partnership, corporation, limited liability company, joint venture trust or unincorporated organization, a government or agency or political subdivision thereof of any other entity. 
  
 “Prospectus” shall mean the prospectus included in any Registration
Statement, as amended or supplemented by a prospectus supplement with respect to the terms of the offering of any portion of 

 
the Registrable Securities covered by such Registration Statement and by all other amendments and supplements to the prospectus, including post-effective
amendments and all material incorporated by reference in such prospectus. 
  
 “Registrable Securities” shall mean (i) Common Stock issued pursuant to the Subscription Agreements and the Common Stock issuable upon exercise of the Warrants and (ii) any other securities issued or
issuable as a result of or in connection with any stock dividend, stock split or reverse stock split, combination, recapitalization, reclassification, merger or consolidation, exchange or distribution in respect of such Common Stock. 
  
 “Registration Expenses” shall have the definition set forth in
Section 7 hereof. 
  
 “Registration Statement” shall
mean any registration statement which covers any of the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus included therein, all amendments and supplements to such Registration Statement, including
post-effective amendments, all exhibits and all material incorporated by reference in such Registration Statement. 
  
 “Restricted Securities” shall have the meaning set forth in Section 2 hereof. 
  
 “Rule 144” shall mean Rule 144 promulgated under the Securities Act, as amended from time to time, or any similar
successor rule thereto that may be promulgated by the SEC. 
  
 “Rule 415” shall mean Rule 415 promulgated under the Securities Act, as amended from time to time, or any similar successor rule thereto that may be promulgated by the SEC. 
  
 “SEC” shall mean the Securities and Exchange Commission, or any
other federal agency at the time administering the Securities Act. 
  
 “Securities Act” shall mean the Securities Act of 1933, as amended (or any similar successor federal statute), and the rules and regulations thereunder, as the same are in effect from time to time. 
  
 “Shelf Registration” shall mean the registration of Registrable
Securities for sale on a continuous or delayed basis pursuant to Rule 415. 
  
 “Shelf Registration Statement” shall mean a Registration Statement on Form S-3 filed in connection with a Shelf Registration. 
  
 “Warrants” shall mean the warrants to purchase shares of Common Stock issued to the Securityholders under the
Subscription Agreements. 
  
 Section
2.    Securities Subject to this Agreement. The securities entitled to the benefits of this Agreement are the Registrable Securities but, with respect to any particular Registrable Security, only so long as such security
continues to be a Restricted Security. A Registrable Security that has ceased to be a Restricted Security cannot thereafter become a Registrable Security. As used herein, a “Restricted Security” is a Registrable Security which as not been
effectively registered under the 

  

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Securities Act and distributed in accordance with an effective Registration Statement and which has not been distributed by a Holder pursuant to Rule 144.

  
 Section 3.    Shelf Registration.

  
 (a)    Filing. The company shall
prepare and file a Shelf Registration Statement with the SEC not later than twenty (20) Business Days following the Closing Date. The Shelf Registration Statement shall cover the offer and sale of the Registrable Securities by the Holders thereof in
accordance with the methods of distribution elected by such Holders. 
  
 (b)    Effectiveness of Shelf Registration Statement. The Company agrees to use its reasonable best efforts to cause the Shelf Registration Statement filed pursuant to this Section 3 to become effective as
promptly as practicable and thereafter to keep such Shelf Registration Statement effective continuously until the earlier of the date as of which (i) all of the Registrable Securities have been sold pursuant to the Shelf Registration Statement or
(ii) the Holders are permitted to sell all of the Registrable Securities under Rule 144(k) under the Securities Act (or any similar provision then in force permitting the sale of restricted securities without limitation on the amount of securities
sold or the manner of sale). The Company shall notify the Holders by facsimile notice on the same Business Day that the Shelf Registration Statement is declared effective by the SEC. 
  
 (c)    Failure to be Declared Effective. If the Shelf Registration Statement to be filed pursuant
to Section 3(a) is not declared effective by December 28, 2003, the Company shall pay to each Holder holding Registrable Securities, as liquidated damages in compensation for their added risk and not as a penalty, an amount equal to .05% of the
amount such Holder paid to acquire the Registrable Securities from the Company for each Business Day in the period beginning on December 28, 2003 and ending on the date the Shelf Registration Statement is declared effective. 
  
 Section 4.    Piggyback Registration. If at any
time prior to the date on which the Shelf Registration Statement is declared effective the Company proposes to file a registration statement (other than a registration statement on Form S-8 or Form S-4, or their successors, or any other form for a
similar limited purpose) with respect to any class of equity securities, whether for its own account or for the account of a holder of securities of the Company, then the Company shall in each case give written notice of such proposed filing to all
Holders of Registrable Securities at least fifteen (15) days before the anticipated filing date of any such registration statement by the Company, and such notice shall offer to all Holders the opportunity to have any or all of the Registrable
Securities held by such Holders included in such registration statement. Each Holder of Registrable Securities desiring to have its Registrable Securities registered under this Section 4 shall so advise the Company in writing within ten (10) days
after the date of receipt of such notice (which request shall set forth the amount of Registrable Securities for which registration is requested), and the Company shall use its reasonable best efforts to include in such Registration Statement all
Registrable Securities so requested to be included therein. Notwithstanding the foregoing, if the managing underwriters of any such proposed public offering advises the Company in writing that the total amount or kind of securities which the Holders
of Registrable Securities, the Company and any other holder of the Company’s securities intended to be included in such proposed public offering is sufficiently large to adversely affect the success of such proposed public offering, then the
amount or kind of securities to be offered for the accounts of Holders of Registrable Securities shall be reduced pro rata, together with the amount or kind of securities to be offered for the accounts of any other persons requesting
registration of 

  

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securities pursuant to “piggyback” registration rights, to the extent necessary to reduce the total amount or kind of securities to be included in
such proposed public offering to the amount or kind recommended by such managing underwriter or underwriters before the securities offered by the Company or any stockholder exercising its demand registration rights in such registration are so
reduced. Anything to the contrary in this Agreement notwithstanding, the Company may withdraw or postpone a Registration Statement referred to in this Section 4 at any time before it becomes effective or withdraw, postpone or terminate the offering
after it becomes effective without obligation to the Holder or Holders of the Registrable Securities. 
  
 Section 5.    Registration Procedures. 
  

(a)    General. In connection with the Company’s registration obligations pursuant to Section 3 hereof, the Company
will: 
  
 (i)    prepare and
file with the SEC a Shelf Registration Statement and such amendments and post-effective amendments to the Shelf Registration Statement as may be (A) reasonably requested by any Securityholder (to the extent such request relates to information
relating to such holder) or (B) necessary to keep such Shelf Registration Statement effective and in compliance with the Securities Act for the time periods set forth in Section 3(b); 
  
 (ii)    as promptly as practicable after becoming aware of such event, notify each
Holder of Registrable Securities of the occurrence of any event, as a result of which the Prospectus included in the Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact
required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, and promptly prepare an amendment to the Registration Statement and supplement to the Prospectus to
correct such untrue statement or omission, and deliver a number of copies of such supplement and amendment to each Holder as such Holder may reasonably request; 
  

(iii)    notify each Holder who holds Registrable Securities being sold (or, in the event of an underwritten
offering, the managing underwriters) of the issuance by the Commission of any stop order or other suspension of the effectiveness of the Registration Statement on the date of receipt of any such stop order or other suspension; 
  
 (iv)    if reasonably requested by a
Holder of Registrable Securities being sold, promptly incorporate in a Prospectus supplement or post-effective amendment such information as the Holders of the Registrable Securities being sold determine should be included therein relating to the
sale of the Registrable Securities; and promptly make all required filings of such Prospectus supplement or post-effective amendment; 
  
 (v)    deliver to each selling Holder of Registrable Securities as many copies as may reasonably be requested of the
then effective Registration Statement and any post-effective amendments thereto, including all documents incorporated therein by reference; 
  
 (vi)    deliver to each selling Holder of Registrable Securities, without charge, as many copies of the then effective
Prospectus (including each prospectus subject to completion) and any amendments or supplements thereto as such Persons may reasonably request; 
  
 (vii)    register or qualify, and cooperate with the selling Holders of Registrable Securities and their respective
counsel in connection with the registration or qualification of, such Registrable Securities for offer and sale under the securities or blue sky laws of such jurisdictions as any selling Holder of Registrable Securities or underwriter reasonably
requests in writing; provided, however, that the Company will not be required to (1) qualify to do business in any jurisdiction where it would not otherwise be required to qualify, but for this paragraph (vii), (2) subject itself to
general taxation in any such jurisdiction or (3) file a general consent to service of process in any such jurisdiction; 
  
 (viii)    cooperate with the selling Holders of Registrable Securities to facilitate the timely preparation and
delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends; 
  
  

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 (ix)    cause all outstanding Registrable Securities covered by the
Registration Statement to be listed, not later than the date that the Registration Statement is declared effective by the SEC, on each securities exchange (or quotation system operated by a national securities association) on which identical
securities issued by the Company are then listed; 
  
 (x)    otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the SEC relating to such registration and the distribution of the securities being offered and make
generally available to its securities holders earnings statements satisfying the provisions of Section 11(a) of the Securities Act; 
  
 (xi)    cooperate and assist in any filings required to be made with the National Association of Securities Dealers,
Inc.; and 
  
 (xii)    subject
to the proviso in paragraph (vii) above, cause the Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers
thereof to consummate the disposition of such Registrable Securities (other than as may be required by the governmental agencies or authorities of any foreign jurisdiction and other than as may be required by a law applicable to a selling Holder by
reason of its own activities or business other than the sale of Registrable Securities). 
  
 The Company may require each seller of Registrable Securities as to which any registration is being effected to furnish to the Company such information regarding such seller and the distribution of such securities as
the Company may from time to time reasonably request and as is required to be included in the Shelf Registration Statement by the applicable rules and regulations of the SEC. 
  
 (b)    Suspension of Sales. Each Holder of Registrable Securities agrees that, upon receipt of
any notice from the Company of the happening of any event of the kind described in Section 5(a)(ii) or 5(a)(iii) such Holder will immediately discontinue disposition of Registrable Securities pursuant to the then current Prospectus until (1) such
Holder is advised in writing by the Company that the Prospectus covering the offer of Registrable Securities has been amended or supplemented as contemplated by Section 5(a)(i)(B) and such Holder receives copies of such supplemented or amended
Prospectus, or (2) such Holder is advised in writing by the Company that the use of the Prospectus may be resumed. If so directed by the Company, on the happening of such event, the Holder will deliver to the Company (at the Company’s expense)
all copies, other than permanent file copies then in such Holder’s possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice. 
  
 (c)    Rule 144 Covenants. With a view to making available to the Holders the benefit of Rule
144, the Company agrees to (i) comply with the provisions of paragraph (c)(1) of Rule 144, and (ii) file with the SEC in a timely manner all reports and other documents required to be filed by the Company pursuant to Section 13 or 15(d) under
the Exchange Act; and, if at any time it is not required to file such reports but in the past had been required to or did file such reports, it will, upon the request of any Holder, make available other information as required by, and so long as
necessary to permit sales of, its Registrable Securities pursuant to Rule 144. 
  
 Section 6.    Blackout Periods. 
  

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 (a)    Material Development Condition. With respect to any Registration
Statement filed or to be filed pursuant to Section 3, if the Company determines that, in its good faith judgment, it would (because of the existence of, or in anticipation of, any acquisition or corporate reorganization or other transaction,
financing activity, stock repurchase or development involving the Company or any subsidiary, or the unavailability for reasons substantially beyond the Company’s control of any required financial statements, or any event or condition of similar
significance to the Company or any subsidiary) be disadvantageous (a “Material Development Condition”) to the Company for such a Registration Statement to be maintained effective for sales of Registrable Securities, the Company shall,
notwithstanding any other provisions of this Agreement, be entitled, upon the giving of a written notice (a “Delay Notice”) to such effect to any Holder of Registrable Securities, to cause the effectiveness of such Registration Statement
to be suspended, until, in the good faith judgment of the Company, such Material Development Condition no longer exists (notice of which the Company shall deliver on a same day basis to any Holder of Registrable Securities with respect to which any
such Registration Statement has been filed). 
  
 (b)    Limitations on Blackout Periods. Other than pursuant to the provisions of Section 6(c), the Company shall not be entitled to cause sales of Registrable Securities to cease or cause the effectiveness of any
Registration Statement to be suspended pursuant to Section 6(a) for longer than either (i) one period of forty-five (45) consecutive days in any 365 day period; or (ii) two (2) periods of twenty-five (25) consecutive days in any 365 day period.

  
 (c)    Blackout Period Defaults. If
a Holder is unable to sell Registrable Securities due to delivery of a notice from the Company pursuant to Section 6(a) under the Shelf Registration Statement for more than either (i) one period of forty-five (45) consecutive days in any 365 day
period; or (ii) two (2) periods of twenty-five (25) consecutive days in any 365 day period., then the Company shall pay to each such Holder for each such excess Business Day, as liquidated damages and not as a penalty, an amount equal to .05% of the
amount such Holder (or the Securityholder from whom the Holder acquired such Registrable Securities) paid to acquire all of its Registrable Securities from the Company. 
  
 Section 7.    Registration Expenses. All expenses, other than underwriting discounts and
commissions arising from sales of Registrable Securities, incurred in connection with registrations, filings or qualifications pursuant to Section 5, but including, without limitation, all registration, listing, and qualifications fees, printing and
engraving fees, accounting fees, and the fees and disbursements of counsel for the Company, and the reasonable fees, not to exceed $5,000.00, of one firm of counsel to the holders of a majority in interest of the Registrable Securities, shall be
borne by the Company (collectively, the “Registration Expenses”). 
  
 Section 8.    Indemnification. 
  
 (a)    Indemnification by the Company. The Company agrees to indemnify and hold harmless, to the full extent permitted by law, but without duplication, each Holder of Registrable Securities,
its officers, directors, trustees and each Person who controls such Holder (within the meaning of the Securities Act), against all losses, claims, damages, liabilities and expenses (including reasonable costs of investigation and reasonable legal
fees and expenses as and when incurred) arising out of or resulting from any untrue statement or alleged untrue statement of a material fact in, or any omission or alleged omission of a material fact required to be stated in, any Registration
Statement or 

  

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Prospectus or necessary to make the statements therein (in the case of a Prospectus in light of the circumstances under which they were made) not misleading,
except insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly for use therein. The Company will also indemnify underwriters participating in the distribution, their officers,
directors, employees, partners and agents, and each Person who controls such underwriters (within the meaning of the Securities Act), to the same extent as provided above with respect to the indemnification of the Holders of Registrable Securities,
if so requested. 
  
 (b)    Indemnification
by Holders of Registrable Securities. In connection with any Registration Statement in which a Holder of Registrable Securities is participating, each such Holder agrees severally and not jointly to indemnify and hold harmless, to the full
extent permitted by law, but without duplication, the Company, its officers and directors and each Person who controls the Company (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including
reasonable costs of investigation and reasonable legal fees and expenses as and when incurred) arising out of or resulting from any untrue statement of material fact in, or any omission of a material fact required to be stated in, any Registration
Statement or Prospectus or necessary to make statements therein (in the case of a Prospectus in light of the circumstances under which they were made) not misleading, to the extent, but only to the extent, that such untrue statement or omission is
contained in any information furnished in writing by such Holder to the Company specifically for inclusion therein. 
  
 (c)    Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder will (i) give prompt notice to
the indemnifying party of any such claim with respect to which it seeks indemnification, but the failure to so notify shall not relieve the indemnifying party from any liability except to the extent that it is prejudiced and forfeits substantive
rights and defenses by reason of such failure, and (ii) permit such indemnifying party to assume the defense of such claim with counsel of such indemnifying party’s choice, reasonably satisfactory to the indemnified party; provided,
however, that any Person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such
indemnified Person unless (A) the indemnifying party shall have failed to assume the defense of such claim or employ counsel reasonably satisfactory to the indemnified party in a timely manner or (B) in the good faith judgment of any such Person,
based upon reasonable written advice of its counsel, a conflict of interest may exist between such Person and the indemnifying party (or other Persons being represented by such counsel) with respect to such claims (in which case, if the Person
notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such person).
The indemnifying party will not be subject to any liability for any settlement made without its consent (which consent shall not be unreasonably withheld). An indemnified party will be required to consent to entry of any judgment or enter in any
settlement which includes as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all liability in respect of such claim or litigation. An indemnifying party who is not
entitled to, or elects not to, assume the defense of the claim will not be obligated to pay the fees and expenses of more than one counsel for all the parties indemnified hereunder by such indemnifying party with respect to such claim. 

 

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 (d)    Contribution. To the extent for any reason the indemnification provided
for in Section 8(a) or Section 8(b) is unavailable to an indemnified party or insufficient to hold it harmless as contemplated by Section 8(a) and Section 8(b), then the indemnifying party shall contribute to the amount paid or payable by the
indemnified party as a result of such loss, claim, damage, or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations.
The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact
relates to information supplied by such indemnifying party or by such indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission . The parties hereto
agree that it would not be just and equitable if contribution pursuant to this Section 8(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in this
Section 8(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages or liabilities (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably
incurred by such indemnified party in connection with investigating or defending any such action or claim. The obligations of the Holders in this Section 8(d) to contribute shall be several in proportion to the percentage of Registrable Securities
registered by them and not joint. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent
misrepresentations. 
  
 (e)    Limitation
of Liability. Notwithstanding paragraph (b) above, in no event shall the liability of a Holder of Registrable Securities, pursuant to paragraph (b) above, be greater in amount than the dollar amount of the proceeds (net of all expenses paid by
such Holder and the amount of any damages such holder has otherwise been required to pay by reason of such untrue statement or omission) received by such Holder upon the sale of the Registrable Securities sold under the Registration Statement in
transactions giving rise to such indemnification obligation. Notwithstanding paragraph (d) above, in no event shall the contribution obligation of a Holder of Registrable Securities, pursuant to paragraph (d) above, be greater in amount than the
dollar amount of the proceeds (net of all expenses paid by such holder and the amount of any damages such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission) received by it
upon the sale of the Registrable Securities giving rise to such contribution obligation. 
  
 (f)    Survival. The terms of this Section 8 shall survive the termination of this Agreement. 
  
 Section 9.    Amendments and Waivers. The provisions of this Agreement, including the provisions of this Section 9, may not be
amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent of Holders of at least a majority of the Registrable Securities (on a Common
Stock equivalent basis) then outstanding. 
  
 Section
10.    Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, facsimile, or reputable overnight delivery service such as
Federal Express: 
  

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 (a)    If to a Holder of Registrable Securities, at the most current address or fax
number given by such Holder to the Company, in accordance with the provisions of this Section 10, which address initially is, with respect to such Holder, listed on Schedule 1 attached hereto. 
  
 (b)    If to the Company, initially at 100 Beaver Street,
Waltham, Massachusetts 02453, Attention: Chief Financial Officer or (781) 893-8277 and thereafter at such other address or fax number as may be designated from time to time by notice given in accordance with the provisions of this Section 10, with a
copy (which shall not constitute notice) to Ropes & Gray, One International Place, Boston, Massachusetts 02110, Attention: Patrick O’Brien, Esq. 
  
 (c)    All such notices and other communications shall be deemed to have been delivered and received (i) in the case of personal
delivery, on the date of such delivery, (ii) in the case of delivery service, on the Business Day after the date when sent (iii) in the case of mailing, on the third Business Day following such mailing, and (iv) in the case of facsimile, upon
receipt of a confirmation of complete transmittal, provided that any facsimile sent after 5:00 p.m. shall be treated as being sent on the next following Business Day. 
  
 Section 11.    Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties hereto, including without limitation and without the need for an express assignment to subsequent Holders of the Registrable Securities who cannot freely transfer their shares in the
absence of registration under the Securities Act. 
  
 Section
12.    Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken
together shall constitute one and the same agreement. This Agreement may be delivered in facsimile. 
  
 Section 13.    Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise
affect the meaning hereof. 
  
 Section
14.    Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Massachusetts, without regard to the principles of the conflict of laws thereof.

  
 Section 15.    Jurisdiction; Forum.
Each party hereto consents and submits to the jurisdiction of any state court sitting in Suffolk County or federal court sitting in Boston in the District of Massachusetts in connection with any dispute arising out of or relating to this Agreement.
Each party hereto waives any objection to the laying of venue in such courts and any claim that any such action has been brought in an inconvenient forum. To the extent permitted by law, any judgment in respect of a dispute arising out of or
relating to this Agreement may be enforced in any other jurisdiction within or outside the United States by suit on the judgment, a certified copy of such judgment being conclusive evidence of the fact and amount of such judgment. Each party hereto
agrees that the personal service of process may be effected by any of the means specified in Section 10, addressed to such party. The foregoing shall not limit the rights of any party to serve process in any other manner permitted by law.

  
 Section 16.    Severability. In the
event that any one or more of the provisions contained herein, or the application thereof in any circumstance, is being held invalid, illegal or unenforceable, the 

  

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validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or
impaired thereby. 
  
 Section 17.    Entire
Agreement. This Agreement is intended by the parties as a final expression of their agreement and is intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter
contained herein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter. 
  
 [Remainder of Page Intentionally Left Blank] 
  

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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

  

	GENOME THERAPEUTICS CORP.
		
	 By:
	 	

	 	 	 Name:
 Title:

  

	THE SECURITYHOLDERS:
	
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	 By:
	 	

	 	 	 Name:
 Title:

	
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	 	 	 Name:
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 -11-EXHIBIT 4.1

 Exhibit 4.1 
  

  
 CAPITAL ONE MULTI-ASSET EXECUTION TRUST 
  
 as
Issuer 
  
 and 
  
 THE BANK OF NEW YORK 
  
 as Indenture Trustee 
  
 CLASS A(2003-4) TERMS DOCUMENT 
  
 dated as of September 26, 2003 
  
 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 
  

 
TABLE OF CONTENTS 
  

	 	  	 	  	Page

			
	 	  	
ARTICLE I	  	 
	 	  	
Definitions and Other Provisions of General Application	  	 
			
	Section 1.01.	  	
Definitions	  	1
			
	Section 1.02.	  	
Governing Law	  	6
			
	Section 1.03.	  	
Counterparts	  	7
			
	Section 1.04.	  	
Ratification of Indenture, the Asset Pool 1 Supplement and Indenture Supplement	  	7
			
	 	  	
ARTICLE II	  	 
	 	  	
The Class A(2003-4) 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]	  	9
			
	Section 2.05.	  	
Payments of Interest and Principal	  	9
			
	Section 2.06.	  	
Form of Delivery of Class A(2003-4) Notes; Depository; Denominations	  	9
			
	Section 2.07.	  	
Delivery and Payment for the Class A(2003-4) Notes	  	9
			
	Section 2.08.	  	
Targeted Deposits to the Accumulation Reserve Account	  	9
			
	Section 2.09.	  	
Capital One Derivative Agreement	  	9
			
	Section 2.10.	  	
Tax Treatment	  	9

 THIS CLASS A(2003-4) TERMS DOCUMENT (this “Terms Document”), by and between CAPITAL ONE
MULTI-ASSET EXECUTION TRUST, a statutory trust created under the laws of the State of Delaware (the “Issuer”), having its principal office at E. A. Delle Donne Corporate Center, Montgomery Building, 1011 Centre Road, Wilmington, DE
19805 and THE BANK OF NEW YORK, a New York banking corporation, as Indenture Trustee (the “Indenture Trustee”), is made and entered into as of September 26, 2003. 
  
 Pursuant to this Terms Document, the Issuer shall create a new tranche of Class A 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 A(2003-4) Notes and no other Tranche of Notes issued by the Issuer; and 

  

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

  
 “Accumulation Period Amount” means $62,500,000.00;
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
A(2003-4) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (ii) the Monthly Period following the first Distribution Date following and including the August 2006 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 A(2003-4) Notes pursuant to Section 3.10(b) of the Indenture Supplement, (iii) the Monthly Period following the first Distribution Date following and including the February 2007 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 A(2003-4) Notes pursuant to Section 3.10(b) of the Indenture Supplement, and (iv) the Monthly Period following the first Distribution Date following and including the April 2007
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 A(2003-4) Notes pursuant to Section 3.10(b) of the Indenture Supplement and (y) ending on the close of business on the last day of the Monthly Period
preceding the earlier to occur of (i) the Expected Principal Payment Date for the Class A(2003-4) Notes and (ii) the date on which the Class A(2003-4) Notes are paid in full. 
  
 “Asset Pool 1 Supplement” means the Asset Pool 1 Supplement dated as of October 9, 2002, by and between the
Issuer and the Indenture Trustee, as amended and supplemented from time to time. 
  
 “Base Rate” means, with respect to any Monthly Period, the sum of (a) the Card Series Servicing Fee Percentage and (b) the weighted average (based on the Outstanding Dollar Principal Amount of the
related Card Series Notes) of the following: 
  
 (i)    in the case of a Tranche of Card Series Dollar Interest-bearing Notes with no Derivative Agreement for interest, the rate of interest applicable to such Tranche for the period from and including the Monthly
Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing Notes in such Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Dollar Interest-bearing Notes in the following Monthly
Period; 
  

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 (ii)    in the case of a Tranche of Card Series Discount Notes, the
rate of accretion (converted to an accrual rate) of such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Discount Notes in such Monthly Period to but excluding the Monthly Interest Accrual
Date for such Tranche of Card Series Discount Notes in the following Monthly Period; 
  
 (iii)    in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement for interest, the rate
at which payments by the Issuer to the applicable Derivative Counterparty accrue (prior to the netting of such payments, if applicable) for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in such
Monthly Period to but excluding the Monthly Interest Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; provided, however, that in the case of a Tranche of Card Series Notes with a Performing Derivative Agreement for
interest in which the rating on such Tranche of Card Series Notes is not dependant upon the rating of the applicable Derivative Counterparty, the amount determined pursuant to this clause (iii) will be the higher of (1) the rate determined pursuant
to this clause (iii) above and (2) the rate of interest applicable to such Tranche for the period from and including the Monthly Interest Accrual Date for such Tranche of Card Series Notes in such Monthly Period to but excluding the Monthly Interest
Accrual Date for such Tranche of Card Series Notes in the following Monthly Period; and 
  
 (iv)    in the case of a tranche of Card Series Notes with a non-Performing Derivative Agreement for interest, the
rate specified for that date in the related Terms Document. 
  
 “Calculation Agent” is defined in Section 2.04(a). 
  
 “Class A(2003-4) Adverse Event” means the occurrence of any of the following: (a) an Early Redemption Event with respect to the Class A(2003-4) Notes or (b) an Event of Default and acceleration of the
Class A(2003-4) Notes. 
  
 “Class A(2003-4) Note”
means any Note, substantially in the form set forth in Exhibit A-1 to the Indenture Supplement, designated therein as a Class A(2003-4) Note and duly executed and authenticated in accordance with the Indenture. 
  
 “Class A(2003-4) Noteholder” means a Person in whose name a
Class A(2003-4) Note is registered in the Note Register. 
  
 “Class A(2003-4) Termination Date” means the earliest to occur of (a) the Principal Payment Date on which the Outstanding Dollar Principal Amount of the Class A(2003-4) Notes is paid in full, (b) the Legal Maturity Date and
(c) the date on which the Indenture is discharged and satisfied pursuant to Article VI thereof. 
  
 “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. 
  

 3 

 “Expected Principal Payment Date” means September 15, 2008. 
  
 “Initial Dollar Principal Amount” means $750,000,000.

  
 “Indenture” means the Indenture dated as of
October 9, 2002, 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 October 2003, 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 September 26, 2003. 
  
 “Legal Maturity Date” means July 15, 2011. 
  
 “Maximum Subordination Amount of Class B Notes” means, for
the Class A(2003-4) Notes for any date of determination, an amount equal to the product of (a) Adjusted Outstanding Dollar Principal Amount of the Class A(2003-4) Notes on such date of determination and (b) the percentage equivalent of a fraction,
the numerator of which is 10 and the denominator of which is 81.25. 
  
 “Note Interest Rate” means a rate per annum equal to 3.65%. 
  
 “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 
  

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 (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 August 2006 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 A(2003-4) Notes as of the close of business on the last day of the preceding Monthly Period or (ii) any other amount designated by the Issuer; provided, however, that if such designation is of a lesser amount, the Note Rating
Agencies shall have provided prior written confirmation that a Ratings Effect will not occur with respect to such change. 
  
 “Required Subordinated Amount of Class B Notes” means, for the Class A(2003-4) Notes for any date of determination, an amount equal to
the product of (a) the Required Subordinated Percentage of Class B Notes for such Class A(2003-4) Notes on such date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2003-4) Notes on such date of
determination; provided, however, that such an amount shall not exceed the Maximum Subordination Amount of Class B Notes for the Class A(2003-4) Notes; provided further, however, that for any date of determination
on or after the occurrence and during the continuation of a Class A(2003-4) Adverse Event, the Required Subordinated Amount of Class B Notes for the Class A(2003-4) Notes will be the greater of (x) the amount determined above for such date of
determination and (y) the amount determined above for the date immediately prior to the date on which such Class A(2003-4) Adverse Event shall have occurred. 
  
 “Required Subordinated Amount of Class C Notes” means, for the Class A(2003-4) Notes for any date of determination, an amount equal to
the product of (a) the Required Subordinated Percentage of Class C Notes for such Class A(2003-4) Notes on such date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2003-4) Notes on such date of
determination; 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 
  

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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
A(2003-4) Notes will not be less than an amount equal to (i) 3.0% of the Initial Dollar Principal Amount of the Class A(2003-4) Notes, minus (ii) the Required Subordinated Amount of Class D Notes for the Class A(2003-4) Notes; provided
further, however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2003-4) Adverse Event, the Required Subordinated Amount of Class C Notes for the Class A(2003-4) Notes will be the
greater of (x) the amount determined above for such date of determination, (y) the amount determined above for the date immediately prior to the date on which such Class A(2003-4) Adverse Event shall have occurred and (z) unless (i) the
Prefunding Target Amount for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card
Series Notes, the amount determined pursuant to the preceding proviso. 
  
 “Required Subordinated Amount of Class D Notes” means, for the Class A(2003-4) Notes for any date of determination, an amount equal to the product of (a) the Required Subordinated Percentage of Class D Notes for such Class
A(2003-4) Notes on such date of determination and (b) the Adjusted Outstanding Dollar Principal Amount of such Class A(2003-4) Notes on such date of determination; 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 A(2003-4) Notes will not be less than an amount equal to 1.8462% of the Initial Dollar Principal Amount of the Class A(2003-4) Notes, provided further,
however, that for any date of determination on or after the occurrence and during the continuation of a Class A(2003-4) Adverse Event, the Required Subordinated Amount of Class D Notes for the Class A(2003-4) 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 A(2003-4) Adverse Event shall have occurred and (z) unless (i) the Prefunding Target Amount
for any Tranche of Card Series Notes on such date of determination is greater than zero or (ii) any prefunded amounts are on deposit in a Principal Funding sub-Account on such date of determination for any Tranche of Card Series Notes, the amount
determined pursuant to the preceding proviso. 
  
 “Required Subordinated Percentage of Class B Notes” means, for the Class A(2003-4) Notes, 12.3077%, subject to adjustment in accordance with Section 2.02. 
  
 “Required Subordinated Percentage of Class C Notes” means, for the Class A(2003-4) Notes, 8.9231%, subject
to adjustment in accordance with Section 2.02. 
  
 “Required Subordinated Percentage of Class D Notes” means, for the Class A(2003-4) Notes, 1.8462%, subject to adjustment in accordance with Section 2.02. 
  
 “Swap Confirmation” is defined in Section 2.09. 
  
 “Swap Payment Amount” is defined in Section 2.09.

  
 “Stated Principal Amount” means $750,000,000.

  

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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, the 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] 
  

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ARTICLE II 
  
 
The Class A(2003-4) Notes 
  
 
Section 2.01.    Creation and Designation.    There is hereby created a tranche of Card Series Class A 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 A(2003-4) Notes.” 
  
 
Section 2.02.    Adjustments to Required Subordinated Percentages. 
  
 (a)    On any date, the Issuer may change the Required Subordinated Percentage of Class B Notes or the Required Subordinated
Percentage of Class C Notes, in each case for the Class A(2003-4) Notes, without the consent of any Noteholders or any Note Rating Agencies, provided that, after giving effect to such change, (x) the sum of the Required Subordination Percentage of
Class B Notes and the Required Subordinated Percentage of Class C Notes, in each case, for the Class A(2003-4) Notes after giving effect to such change is equal to or greater than the sum of the Required Subordination Percentage of Class B Notes and
the Required Subordinated Percentage of Class C Notes, in each case, for the Class A(2003-4) Notes immediately prior to giving effect to such change and (y) the Required Subordinated Amount of Class B Notes for the Class A(2003-4) Notes does not
exceed the Maximum Subordinated Amount of Class B Notes. 
  
 (b)    On any date, the Issuer may change the Required Subordinated Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes or the Required Subordinated Percentage of Class D Notes, in each
case for the Class A(2003-4) Notes, such that after giving effect to all changes to such percentages on such date the sum of the Required Subordination Percentage of Class B Notes, the Required Subordinated Percentage of Class C Notes and the
Required Subordinated Amount of Class D Notes, in each case, for the Class A(2003-4) Notes after giving effect to such change is less than the sum of the Required Subordination Percentage of Class B Notes, the Required Subordinated Percentage of
Class C Notes and the Required Subordinated Amount of Class D Notes, in each case, for the Class A(2003-4) Notes immediately prior to giving effect to such change, without the consent of any Noteholders, 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 Class A(2003-4) 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 A(2003-4) Notes shall be an amount equal to one-twelfth of the product of the Note Interest Rate,
times (ii) the Outstanding Dollar Principal Amount of the Class A(2003-4) 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 $1,444,792.00. Any interest on the Class A(2003-4) Notes will be calculated on the basis of a 360-day year and twelve 30-day months. 
  

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 (b)    Pursuant to Section 3.03 of the Indenture Supplement, on each
Distribution Date, the Indenture Trustee shall deposit into the Class A(2003-4) Interest Funding sub-Account the portion of Card Series Available Finance Charge Amounts allocable to the Class A(2003-4) 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 A(2003-4) Note which is punctually paid or duly provided
for by the Issuer and the Indenture Trustee on the applicable Interest Payment Date or Principal Payment Date shall be paid by the Paying Agent to the Person in whose name such Class A(2003-4) Note (or one or more Predecessor Notes) is registered on
the Record Date, by wire transfer of immediately available funds to such Person’s account as has been designated by written instructions received by the Paying Agent from such Person not later than the close of business on the third Business
Day preceding the date of payment or, if no such account has been so designated, by check mailed first-class, postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that with respect to Notes
registered on the Record Date in the name of the nominee of Cede & Co., payment shall be made by wire transfer in immediately available funds to the account designated by such nominee. 
  
 (b)    The right of the Class A(2003-4) Noteholders to
receive payments from the Issuer will terminate on the first Business Day following the Class A(2003-4) Termination Date. 
  
 
Section 2.06.    Form of Delivery of Class A(2003-4) Notes; Depository; Denominations. 
  
 (a)    The Class A(2003-4) Notes shall be delivered in the form of a global Registered Note as provided in Sections 202 and
301(i) of the Indenture, respectively. 
  
 (b)    The Depository for the Class A(2003-4) Notes shall be The Depository Trust Company, and the Class A(2003-4) Notes shall initially be registered in the name of Cede & Co., its nominee. 
  
 (c)    The Class A(2003-4) Notes will be issued in
minimum denominations of $1,000 and integral multiples of that amount. 
  
 
Section 2.07.    Delivery and Payment for the Class A(2003-4) Notes.    The Issuer shall execute and deliver the Class A(2003-4) Notes to the Indenture Trustee for
authentication, and the Indenture Trustee shall deliver the Class A(2003-4) Notes when authenticated, each in accordance with Section 303 of the Indenture. 
  
 
Section 2.08.    Targeted Deposits to the Accumulation Reserve Account. 
  
 The deposit targeted to be made to the Accumulation Reserve Account for any Monthly Period during the Accumulation Reserve Funding Period will be an
amount equal to the Required Accumulation Reserve sub-Account Amount. 
  
 
Section 2.09.    Capital One Derivative Agreement. 
  

 9 

 (a)    On any Distribution Date, any amount owed by the Issuer (the “Swap
Payment Amount”) pursuant to the ISDA Master Agreement, dated as of October 9, 2002, as supplemented by the Schedule thereto, dated as of October 9, 2002, and the Confirmations (each, a “Swap Confirmation”) thereto relating
to the Class A(2003-4) Notes, each dated as of September 26, 2003 (collectively, the “Capital One Derivative Agreement”), each between Capital One Bank and the Issuer, shall be paid to Capital One Bank from Card Series Finance
Charge Amounts (available after giving effect to Sections 3.01(a) through (l) of the Indenture Supplement) for such Distribution Date in an amount not to exceed the lesser of (i) the product of (x) the amount of Card Series Finance
Charge Amounts available for application pursuant to Section 3.01(m) of the Indenture Supplement times (y) a fraction, the numerator of which is the Nominal Liquidation Amount of the Class A(2003-4) Notes as of the close of business on
the last day of the preceding Monthly Period and the denominator of which is the Nominal Liquidation Amount of all tranches of Card Series Notes as of the close of business on the last day of the preceding Monthly Period and (ii) the amount of such
payment owed by the Issuer to Capital One Bank on such Distribution Date; provided, however, if the Swap Payment Amount owed to Capital One Bank is less than the amount described in clause (ii) above, the Swap Payment Amount will be
allocated pro rata based on the Fixed Rate Notional Amount (as such term is defined in the respective Swap Confirmation) described in each Swap Confirmation. 
  
 (b)    On any Distribution Date, any amount owed to the Issuer pursuant to the Capital One Derivative Agreement shall be, when
received by the Issuer, treated as Card Series Finance Charge Amounts for the purposes of Section 3.01(n) of the Indenture Supplement. 
  
 (c)    The Capital One Derivative Agreement shall not be considered a “Derivative Agreement” (as such term is defined
in the Indenture) for the purposes of Indenture, the Asset Pool Supplement or the Indenture Supplement. 
  
 
Section 2.10.    Tax Treatment.    Notwithstanding any other express or implied agreement to the contrary, each of the Issuer and the Class A(2003-4) Noteholders are
hereby deemed to agree that they and any recipient of the Prospectus Supplement dated September 22, 2003 and the Prospectus dated July 28, 2003, each relating to the Class A(2003-4) Notes (or their employees, representatives, or other agents), may
disclose to any and all persons, without limitation of any kind, the Tax Treatment and Tax Structure of any transaction relating to the Issuer or the Class A(2003-4) Notes and all materials of any kind (including opinions or other tax analyses) that
are provided to any of them relating to such Tax Treatment and Tax Structure. For purposes of this Section 2.10, “Tax Treatment” refers to the purported or claimed treatment of the Issuer and the Class A(2003-4) Notes under
the Internal Revenue Code, and “Tax Structure” refers to any fact that may be relevant to understanding such Tax Treatment. It is hereby confirmed that each of the foregoing have been deemed to so agree since the commencement of
discussions regarding the Class A(2003-4) Notes. 
  
 [END OF
ARTICLE II] 
  

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

	 CAPITAL ONE MULTI-ASSET EXECUTION TRUST, by DEUTSCHE BANK TRUST COMPANY DELAWARE, not in its individual capacity, but solely
as Owner Trustee on behalf of the Trust
  

		
	By:	 	/s/    MICHELE VOON        
	 	

	         Name:  Michele Voon

	         Title:    Attorney-in-fact
  

	
	 THE BANK OF NEW YORK, as Indenture Trustee and not in its individual capacity
  

		
	By:	 	/s/    ALLISON R. CLAN        
	 	

	         Name:  Allison R. Clan

	        Title:    Assistant Treasurer

  
  
 [Signature Page to the Class A(2003-4) Terms Document]

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