Exhibit 10.35

 

Dominion Resources, Inc.

Non-Employee Directors’ Annual Compensation

As of December 31, 2004

 

Annual Retainer

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Amount

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Service as Director

  $55,000 ($20,000 cash; $35,000 stock)

Service as Audit Committee Chair

  $12,500

Service as a Committee Chair (other than Audit)

  $  5,000

Meeting Fees

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Board meetings

  $2,000 per meeting

Audit and Organization, Compensation and

    Nominating Committee meetings

  $2,000 per meeting

All other Committee meetings

  $1,500 per meeting

 

Beginning with the 2005 Annual Meeting, and upon shareholder approval, each
director will receive a $35,000 annual deferred stock grant to provide a
long-term incentive.