Capital One Financial Corp. outlined Friday the 2010 compensation plan for Chief Executive Richard Fairbank, which comprises stock-based compensation valued at $11.5 million, plus stock options, but no cash bonus or salary.

Fairbank, who founded the McLean, Va., company in 1988, was granted an estimated 314,639 shares, split between "performance share units" and "restricted stock units" (which vest over time), according to a filing with the Securities and Exchange Commission on Friday. In addition, he was awarded an option to buy up to 559,333 shares in three years' time.

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