Document:

Prepared by R.R. Donnelley Financial -- EX-10.22

  EXHIBIT 10.22
 May 26, 1989 Mr. James P. O’Hanlon
 4680 Township Walk 
 Marietta, Georgia 30066
 Dear
Jim:
 We were delighted to hear from you this morning confirming your decision to join the Virginia Power team. As discussed yesterday, your initial salary will be $135,000 per year as
Vice President-Nuclear Services reporting directly to me. You will be given an up-front payment of $50,000, and an additional $25,000 at the completion of your first year of
employment.
 In addition to your base salary, you are eligible to participate in the following two incentive plans with
awards paid as a percentage of your salary grade midpoint:

	•	 	Annual Management Incentive Plan- Target Award = 20% of midpoint.
 Eligibility will begin January 1, 1990.
	 	 	 
	•	 	Long-term (3 year cycle) Performance Achievement Plan- Target Shares = 10% of midpoint. You will be eligible for a prorata
award from the 1989-91 Plan.

 Your coverage under Virginia Power’s Retirement Plan will begin after six (6) months of employment. To assist you with your retirement income, you will be credited with 20 years of service upon attaining age 55, and 30 years of service at age 60 when your actual service will be approximately 14 years.
 I think you will find Virginia Power offers a competitive employment package. I understand Max Bartholomew provided you with information on the flexible benefits programs. In addition, I am attaching/enclosing the following:

	•	 	Benefits Summary-Attachment I
	•	 	1989 Policy Guidelines for Selection, Purchase, and Disposal of Executive Vehicles (Reference Group 3)- Enclosure I
	•	 	Transfer/Relocation Policy  and guide (Reference Plan A-with an additional transfer allowance of three times gross monthly
salary)   Enclosure II

  Mr. James P. O’Hanlon
 Page 2
 May 26, 1989 We would like you to report on Thursday, June
15, 1989 at our Innsbrook Technical Center, 5000 Dominion Boulevard, Short Pump, Virginia. If our offer as outlined here is acceptable, please sign in the space below and return a copy to me
for our files. If you have any questions, please feel free to call me collect at (804) 273-3551.
 Jim, once again, let me welcome you aboard and I look forward to working with you on the challenges and opportunities presented by our nuclear program.
 Sincerely,
 /s/William L. Stewart
 William L. Stewart
 Senior Vice President-Nuclear

Enclosures
 I accept the offer as described above.
 
      /s/ James P. O’Hanlon                 
 James P.
O’Hanlon
       May 31,
1989                                  
 Date

  September 18, 1997
  
 Mr. James P. O’Hanlon
 Senior Vice President – Nuclear
 Dear Jim:
 I am pleased to advise you that
the Board of Directors has authorized an increase in your base annual salary as Senior Vice President – Nuclear to $322,000, effective August 1, 1997. The Board recognizes the outstanding contributions you have made to the Company’s
success. As further inducement for you to continue your excellent performance and remain in the employ of the Company, the Board has provided that you will be eligible for lifetime benefits under the Company’s Executive Supplemental Retirement
Plan if your employment as an officer continues through the date of your 60th birthday.
 Please return your signed acknowledgement of this letter.
 Sincerely yours,
 /s/ Norman Askew
 Norman Askew
 President and CEO
 Acknowledged:       /s/ James P.
O’Hanlon        
                               
 James P. O’Hanlon
 Dated: September   24 , 1997Prepared by R.R. Donnelley Financial -- EX-10.23

  
 EXHIBIT 10.23 
  
 PERSONAL AND CONFIDENTIAL 
  
 M E M O R A N D U M 
  
 TO:                        Robert E. Rigsby
                                        
            November 16, 2001 
  
 FROM:
                 Anne M.
Grier                                       
                  Richmond, Virginia 
  
 Terms of
Retirement 
  
 This memorandum sets forth the terms and conditions of your retirement. 
  
 Effective December 1, 2001, you will resign from your position as Executive Vice President and chief Operation Officer of Virginia Power and any other
positions you hold as an officer or board member of Dominion Resources or its affiliates and subsidiaries (collectively referred to as the “Company”). Your employment with the Company will terminate and you will retire effective February
1, 2002. 
  
 Benefits Under Employment Contacts 
  
 Under the terms and conditions of your employment with the Company and the benefits described in the letter agreements dated September 15, 1995 and April 16, 1999, you are entitled upon your retirement to certain
benefits as described below: 
  

	 	n
	 
	In accordance with the terms of the letter agreement dated September 15, 1995 you will be paid a lump sum severance equal to 6 months of your final base salary. This payment
will equal $200,000, less applicable withholding taxes, and will be paid within 30 days of your retirement date. 
 

  
 Benefits Available as Additional Consideration 
  
 The benefits listed below will not be paid until a properly executed General Release becomes effective and enforceable. The release will become effective and enforceable seven days following your execution of the General Release.

  

	 	n
	 
	Severance Payment:    You will also receive a lump sum payment at retirement equal to one times your annual bas salary, or $400,000, less applicable
withholding taxes. This amount will be paid within 30 days of your retirement date. 
 

 

  

	 	n
	 
	Stock Options:    You have 350,000 nonqualified stock options granted on May 17, 1999. These options are fully vested and exercisable. As additional
consideration, you may exercise these options until their expiration date of May 17, 2009. 
 

  
 You have 200,000
stock options granted on July 1, 2001. These options will become fully vested and exercisable as of the date of your retirement, and as additional consideration, will remain exercisable until the following expiration dates: 
  
 
	 Percentage
 
	  	 Expiration Date
 

	 33- 1/3%
 	  	 January 1, 2008
 
	 33- 1/3%
 	  	 January 1, 2009
 
	 33- 1/3%
 	  	 January 1, 2010
 

 
  

	 	n
	 
	Retirement Benefit Restoration Plan:    You will receive a benefit under the Company’s Retirement Benefit Restoration Plan calculated on the
basis of age 60 and 30 years of credited service. As additional consideration, your benefit was also calculated using your final annual pay. If you elect a lump sum payment or a lump sum deferral to the Deferred Compensation Plan, this benefit will
be paid, subject to approval by the Administrative Benefit Committee, within 30 days of the date of your retirement. Please see Attachment A for an explanation of this benefit and the associated election form. 
 

 

	 	n
	 
	Executive Supplemental Retirement Plan:    Under the terms of the letter agreement dated April 16, 1999, you are entitled to a lifetime benefit under
the Executive Supplemental Retirement Plan if your employment as an officer continues to the date of your 55th birthday.
As additional consideration, the age requirement for this benefit is being waived and you will receive a lifetime ESRP benefit as of your retirement date. If you elect a lump sum payment or a lump sum deferral to the Deferred Compensation Plan, this
benefit will be paid or deferred, subject to approval by the Administrative Benefit Committee, within 30 days of the date of your retirement. Please see Attachment B for an explanation of this benefit and the associated election forms.

 

  

	 	n
	 
	Financial Planning Services:    You will receive Company-paid financial planning services for years 2002 and 2003 up to a maximum of $8,500 for each
year. Please submit your approved invoices to Ray Hugo, 120 Tredegar Street, Richmond, Virginia 23219. 
 

  

	 	n
	 
	COBRA Benefits (Dental & Vision):    Under the terms of the Consolidated Omnibus Budget Reconciliation Act (COBRA), you are eligible for
continued coverage under the Company’s dental and vision benefit plans for 18 months or, if earlier, until you are covered by another group plan. After your retirement, you will automatically receive information containing the specifics of this
program, along with the proper forms in order to elect continuation of coverage. Once you receive this material, it is very important that you read this information and respond within the stated guidelines, because there is only a limited amount of
time to elect coverage 
 

 

 under the COBRA provisions. If you do not receive this material by mid-February, please contact Phil Calhoun at (804) 819-2522. The
2002 monthly premium rates are as follows. As an additional benefit, if you elect this coverage, the Company will pay to you these premiums through a lump sum payment within 30 days of your retirement date. You will then be responsible for making
premium payments when they become due. See attachment C. 
  
 
	  	  	  
	 Dental
 	  	 $25.86
 
	 Vision
 	  	 $  2.04
 

 
  

	 	n
	 
	Stock Purchase and Loan Program:    You have an outstanding loan balance of $1,264,825 under the Company’s Executive Stock Purchase and Loan
Program. You may continue to participate in the Program after your retirement, and you will continue to receive the Company’s interest rate subsidy for as long as you continue to hold the shares purchased with the loan. If you wish to cease
your participation, the Company will pay for the prepayment fees and $500 administration fee, plus as additional consideration a gross up amount to cover any related income taxes on the fees. Please see Attachment D for a detailed explanation if you
wish to cease your participation. 
 

  

	 	n
	 
	Home Security System:    The company will continue to pay for and monitor your home security system through December 31, 2004.

 

  
 Other Employment Benefits 
  

	 	n
	 
	Restricted Stock:    You have 11,893 shares of restricted stock that will vest at the date of your retirement. The value of the shares on the vesting
date (your retirement date) will be taxable income to you at that time. Applicable withholding taxes are due and payable immediately. Please see Attachment E for your choices with regard to the satisfaction of the withholding taxes and the
disposition of the shares. 
 

  

	 	n
	 
	Annual Incentive Bonus:    The 2001 incentive bonus will be paid at the same time as other executives and it will be based on Company performance.
You will be paid $25,000 at retirement which equals  1/12 of your 2002 Target Award amount. 

  

	 	n
	 
	Unused Vacation:    You will receive a payment in the amount of $ 64,616, less applicable withholding taxes, which represents 41days of unused 2001
and 2002 vacation. 
 

  

	 	n
	 
	Qualified Retirement Plan:    You are eligible to receive a monthly benefit under the Dominion Resources Retirement Plan based upon your actual age
at retirement (52.67 years of age), years of service to retirement date (22.67 years of service), salary (highest 60 consecutive months during the most recent 120 months), and estimated Social Security benefits. You cannot begin receiving a monthly
benefit under this plan until you reach age 55. Once you reach age 55, you may elect to 
 

 

 receive your monthly benefit in the form of either a straight life annuity, a joint & 50% survivor annuity, a joint & 100%
survivor annuity, or a Social Security Leveling annuity. You do not have to begin your annuity at age 55; you may wait until a future date to begin receiving your monthly payments. The longer you wait before beginning your annuity, the larger the
monthly benefit amount will be. The Retirement Income Election Form is included as part of Attachment F for use in making your elections. 
  

	 	n
	 
	Retiree Medical Plan:    You are entitled to medical coverage under the terms of the Company’s retiree medical plan as in effect from time to
time and based on a retirement age of 60 and 30 years of credited service . Please see Attachment G for details about the current terms of the Company’s retiree medical plan and the election forms. 
 

  

	 	n
	 
	Qualified Salaried Savings Plan:    Since you deferred a portion of your salary to the Savings Plan, you have an account balance available to you at
retirement. This balance will include your contributions to the plan, company matching contributions, and earnings and/or losses associated with the investment elections you selected. After your retirement, no further contributions (either employee
or employer contributions) can be made to your account. Your account will continue to earn investment income based upon your investment elections. 
 

  
 You do have several options concerning your existing account balance. The Internal Revenue Code does not allow you to make withdrawals from a qualified savings plan without penalty until
you reach age 59 1⁄2. Any withdrawal, whether now or at a future date, will be subject to income taxes in the year of distribution. Please see Attachment H, titled Participant Options at Termination, Retirement or Disability, relating to the
Dominion Salaried Savings Plan. To discuss your options further, or to make a retirement distribution election, please contact Dreyfus Retirement Services at 1-877-706-7283. 
  

	 	n
	 
	Retiree Life Insurance:    The Company will purchase a whole life insurance policy on your behalf with a face amount of $300,000. This life insurance
benefit equals 75% of your current annual base salary. The Company will make the premium payments of approximately $18,000 on an annual basis for seven years, after which time the policy will be fully paid-up. These annual premium payments will be
taxable income to you, and will be reflected on a W-2 statement that will be issued by the Company to you each year. 
 

  

	 	n
	 
	Company Car:    You may elect to receive your current Company car as a gift at retirement. The value of the car $ 34,465 will be taxable income to
you. In lieu of the gift of the car, the Company will make a lump sum cash payment to you in the amount of $ 34,465, less applicable withholding taxes. Please see Attachment I to make your election. 
 

 

  

	 	n
	 
	Deferred Compensation Plan:    You currently have a balance in your Deferred Compensation Plan account. In addition, you are eligible to receive the
Company’s lost matching contribution to the Savings Plan due to the Internal Revenue Code Section 401(a)(17) limit for the plan year. A calculation will be done in January, 2002 to determine the amount, if any, that you may receive under the
terms of the plan and deposited into your deferral account. You will also have the opportunity to defer any lump sum payments for which you may qualify under the ESRP and Benefit Restoration Plans. 
 

  
 Previously, you elected to receive a distribution from your account in the form of an annuity with five (5) annual installments. With an effective
retirement date of February 1, 2002, your first installment is currently scheduled to begin in February, 2003. If you elect to defer your ESRP and/or Benefit Restoration Plan lump sum payments under the Deferred Compensation Plan, you may complete a
revised Distribution Election Form (enclosed – Attachment J) that will apply to the entire balance in your deferral account. If you do not submit a change to this form your previous election will apply to your entire account balance. You may
check your current account balances at www.Toddlink.com. After retirement, and subject to approval of the Administrative Benefits Committee, you may change your distribution schedule one time. 
  
 GENERAL RELEASE OF CLAIMS 
  
 By
signing and returning one copy of this memorandum to Phil Calhoun at the Riverside Building in Richmond, you agree that the payments and benefits described in this memorandum constitute a full settlement of the Company’s obligations to you
under any agreements relating to your employment. You also agree to sign and return to Phil along with this memorandum the General Release (Attachment K), and you acknowledge that you have received additional consideration as described in this
memorandum in exchange for signing the General Release. 
  
 Please also return all completed forms to Phil within the enclose
envelope. 
  
 Please feel free to call me at (804) 819-2020 or Phil at (804) 819-2522 about this memorandum or
your retirement. 
  
 Thank you. 
  
 Sincerely, 
 /s/    Anne M. Grier 
  
 Anne M. Grier 
 Director-Executive Compensation 

 
 Agreed: 
 

 5 

  
 
	 
	 /s/    Robert E. Rigsby
 
	 	  
	 Robert E. Rigsby
 	 	  
	 
	 12/7/01
 
	 	  
	 Date
 	 	  

 
  
 
	 
	  	 	  
	 CC:
 	 	 Raymond M. Hugo
 
	  	 	 Philip H. Calhoun
 
	  	 	 Personnel File
 
	  	 	  
	  	 	  
	  	 	  

 
  
  
  
 

 6

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