Document:

Form of Thirty-Eighth Supplemental and Amending Indenture

 Exhibit 4.2 
 DOMINION RESOURCES, INC. 
 Issuer 
 TO 
 THE BANK OF NEW YORK MELLON 
 (successor to JPMorgan Chase Bank, N.A. 
 (formerly known as The Chase Manhattan Bank))

 Original Trustee 
 AND

 DEUTSCHE BANK TRUST COMPANY AMERICAS 
 Series Trustee 
  
  
 Thirty-Eighth Supplemental and Amending Indenture 
 Dated as of November 1, 2008 
  
  
 $600,000,000 
 2008 Series D 8.875% Senior Notes 
 due 2019

 TABLE OF CONTENTS* 
  

					
	 ARTICLE I
 2008 SERIES D 8.875%
 SENIOR NOTES DUE 2019
	  	
			
	SECTION 101.	 	Establishment	  	2
	SECTION 102.	 	Definitions	  	2
	SECTION 103.	 	Payment of Principal and Interest	  	5
	SECTION 104.	 	Denominations	  	6
	SECTION 105.	 	Global Securities	  	6
	SECTION 106.	 	Redemption	  	7
	SECTION 107.	 	Repayment at the Option of the Holder	  	7
	SECTION 108.	 	Sinking Fund	  	8
	SECTION 109.	 	Additional Interest	  	8
	SECTION 110.	 	Paying Agent	  	8
	SECTION 111.	 	Limitation on Liens	  	8
	
	 ARTICLE II
 AMENDMENTS TO THE ORIGINAL INDENTURE

			
	SECTION 201.	 	Amendment to Section 101	  	11
	SECTION 202.	 	Amendment to Section 301	  	11
	
	 ARTICLE III
 THE SERIES TRUSTEE

			
	SECTION 301.	 	Appointment of Series Trustee	  	12
	SECTION 302.	 	Eligibility of Series Trustee	  	12
	SECTION 303.	 	Security Registrar and Paying Agent	  	12
	SECTION 304.	 	Concerning the Trustees	  	12
	SECTION 305.	 	Patriot Act Requirements of Series Trustee	  	13
	
	 ARTICLE IV
 MISCELLANEOUS PROVISIONS

			
	SECTION 401.	 	Recitals by Company	  	13
	SECTION 402.	 	Ratification and Incorporation of Original Indenture	  	13
	SECTION 403.	 	Executed in Counterparts	  	13
	SECTION 404.	 	Assignment	  	13

  

	*	This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation of any of its terms and provisions. 

 THIS THIRTY-EIGHTH SUPPLEMENTAL AND AMENDING
INDENTURE is made as of the first day of November, 2008, by and between DOMINION RESOURCES, INC., a Virginia corporation, having its principal office at 120 Tredegar Street, Richmond, Virginia 23219 (the “Company”), THE BANK OF NEW YORK
MELLON (successor to JPMORGAN CHASE BANK, N.A. (formerly known as THE CHASE MANHATTAN BANK)), a New York banking corporation, as Trustee (herein called the “Original Trustee”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking
corporation, as Trustee of the series of Securities established by this Thirty-Eighth Supplemental and Amending Indenture, having a corporate trust office at 60 Wall Street, 27th Floor, New York, New York 10005 (herein called the “Series Trustee”). 
 W I T N E S S E T H:

 WHEREAS, the Company has heretofore entered into a Senior Indenture, dated as of June 1, 2000 (the “Original Indenture”),
as heretofore supplemented and amended, with the Original Trustee; 
 WHEREAS, the Original Indenture is incorporated herein by this
reference and the Original Indenture, as heretofore supplemented and amended and as further supplemented and amended by this Thirty-Eighth Supplemental and Amending Indenture, is herein called the “Indenture”; 
 WHEREAS, under the Original Indenture, a new series of Securities may at any time be established in accordance with the provisions of the Original
Indenture and the terms of such series may be described by a supplemental indenture executed by the Company and the Trustee; 
 WHEREAS, the
Company proposes to create under the Indenture a new series of Securities; 
 WHEREAS, the Company is entering into this Thirty-Eighth
Supplemental and Amending Indenture with the Original Trustee and the Series Trustee to make certain amendments to the Original Indenture pursuant to Section 901(6) of the Original Indenture to permit the appointment of the Series Trustee as
Trustee for the series of Securities hereby established, to add to or change any of the provisions of the Original Indenture as shall be necessary to provide for or facilitate the administration of the trusts thereunder by more than one Trustee and
to evidence and provide for the acceptance of appointment thereunder by a Trustee with respect to the series of Securities hereby established; 
 WHEREAS, the Company has requested that the Original Trustee enter into this Thirty-Eighth Supplemental and Amending Indenture in connection with (i) the foregoing amendments, and (ii) the Company’s appointing the Series
Trustee with all the rights, powers, trusts and duties of the Original Trustee with respect to, and only with respect to, the series of Securities hereby established; 
 WHEREAS, additional Securities of other series hereafter established, except as may be limited in the Original Indenture as at the time supplemented and modified, may be issued from time to time pursuant to the
Indenture as at the time supplemented and modified; and the Original Trustee will, unless and until a Person other than the Original Trustee is appointed to act as Trustee with respect to the Securities of such series, serve as Trustee of such
series; 

 WHEREAS, all conditions necessary to authorize the execution and delivery of this Thirty-Eighth
Supplemental and Amending Indenture and to make it a valid and binding obligation of the Company have been done or performed. 
 NOW,
THEREFORE, in consideration of the agreements and obligations set forth herein and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 ARTICLE I 
 2008 SERIES D 8.875%
SENIOR NOTES DUE 2019 
 SECTION 101. Establishment. There is hereby established a new series of Securities to be issued under the
Indenture, to be designated as the Company’s 2008 Series D 8.875% Senior Notes due 2019 (the “Series D Senior Notes”). 
 There are to be authenticated and delivered $600,000,000 principal amount of Series D Senior Notes, and such principal amount of the Series D Senior Notes may be increased from time to time pursuant to Section 301(2) of the Indenture.
All Series D Senior Notes need not be issued at the same time and such series may be reopened at any time, without the consent of any Holder, for issuances of additional Series D Senior Notes. Any such additional Series D Notes will have the same
interest rate, maturity and other terms as those initially issued. Further Series D Senior Notes may also be authenticated and delivered as provided by Sections 304, 305, 306, 905 or 1107 of the Original Indenture. 
 The Series D Senior Notes shall be issued in definitive fully registered form without coupons, in substantially the form set out in Exhibit A
hereto. The entire initially issued principal amount of the Series D Senior Notes shall initially be evidenced by one or more certificates issued to Cede & Co., as nominee for The Depository Trust Company. 
 The form of the Series Trustee’s Certificate of Authentication for the Series D Senior Notes shall be in substantially the form set forth in
Exhibit B hereto. 
 Each Series D Senior Note shall be dated the date of authentication thereof and shall bear interest from the date
of original issuance thereof or from the most recent Interest Payment Date to which interest has been paid or duly provided for. 
 SECTION
102. Definitions. The following defined terms used herein shall, unless the context otherwise requires, have the meanings specified below. Capitalized terms used herein for which no definition is provided herein shall have the meanings set
forth in the Original Indenture. 
 “Adjusted Treasury Rate” means, with respect to any Redemption Date: (i) the yield, under
the heading which represents the average for the immediately preceding week, appearing 

  

 2 

 
in the most recently published statistical release designated “H.15(519)” or any successor publication which is published weekly by the Board of
Governors of the Federal Reserve System and which establishes yields on actively traded United States Treasury securities adjusted to constant maturity under the caption “Treasury Constant Maturities,” for the maturity corresponding to the
Comparable Treasury Issue (if no maturity is within three months before or after the Remaining Life, yields for the two published maturities most closely corresponding to the Comparable Treasury Issue will be determined and the Adjusted Treasury
Rate will be interpolated or extrapolated from such yields on a straight line basis, rounding to the nearest month); or (ii) if such release (or any successor release) is not published during the week preceding the calculation date or does not
contain such yields, the rate per annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to
the Comparable Treasury Price for such Redemption Date. 
 “Business Day” means a day other than (i) a Saturday or a Sunday,
(ii) a day on which banks in New York, New York are authorized or obligated by law or executive order to remain closed or (iii) a day on which the Corporate Trust Office of the Series Trustee is closed for business. 
 “Comparable Treasury Issue” means the United States Treasury security selected by an Independent Investment Banker as having a maturity
comparable to the remaining term of the Series D Senior Notes to be redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the Remaining Life. 
 “Comparable Treasury Price” for any Redemption Date means (i) the average of the Reference
Treasury Dealer Quotations for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer Quotations, or (ii) if the Independent Investment Banker obtains fewer than five such Reference Treasury Dealer Quotations,
the average of all such quotations. 
 “Corporate Trust Office of the Series
Trustee” means the office of the Series Trustee at which at any particular time its corporate trust business with respect to the series of Securities herein described shall be principally administered, which office at the date of original
execution of this Thirty-Eighth Supplemental and Amending Indenture is located at 60 Wall Street, 27th Floor, New York, New York 10005 (in addition
copies of correspondence are to be sent to Deutsche Bank National Trust Company for Deutsche Bank Trust Company Americas, 25 DeForst Avenue, Mail Stop 0105, Summit, New Jersey, 07901). 
 “Independent Investment Banker” means Barclays Capital Inc. or J.P. Morgan Securities Inc. and their respective successors as selected by the
Company, or if any such firm is unwilling or unable to serve as such, an independent investment and banking institution of national standing appointed by the Company. 
 “Interest Payment Dates” means January 15 and July 15 of each year, commencing on July 15, 2009. 
  

 3 

 “Lien” means any mortgage, lien, pledge, security interest or other encumbrance of any kind.

 “Material Subsidiary” means a Subsidiary of the Company whose total assets (as determined in accordance with GAAP) represent at
least 20% of the total assets of the Company on a consolidated basis. 
 “Original Issue Date” means December 1, 2008.

 “Outstanding”, when used with respect to the Series D Senior Notes, means, as of the date of determination, all Series D Senior
Notes, theretofore authenticated and delivered under the Indenture, except: 
 (i) Series D Senior Notes theretofore canceled by the Series
Trustee or delivered to the Series Trustee for cancellation; 
 (ii) Series D Senior Notes for whose payment at Maturity the necessary amount
of money or money’s worth has been theretofore deposited (other than pursuant to Section 402 of the Original Indenture) with the Series Trustee or any Paying Agent (other than the Company) in trust or set aside and segregated in trust by
the Company (if the Company shall act as its own Paying Agent) for the Holders of such Series D Senior Notes; 
 (iii) Series D Senior Notes
with respect to which the Company has effected defeasance or covenant defeasance has been effected pursuant to Section 402 of the Original Indenture; and 
 (iv) Series D Senior Notes that have been paid pursuant to Section 306 of the Original Indenture or in exchange for or in lieu of which other Series D Senior Notes have been authenticated and delivered pursuant
to the Indenture, other than any such Series D Senior Notes in respect of which there shall have been presented to the Series Trustee proof satisfactory to it that such Series D Senior Notes are held by a bona fide purchaser in whose hands such
Series D Senior Notes are valid obligations of the Company; provided, however, that in determining whether the Holders of the requisite principal amount of Outstanding Series D Senior Notes have given any request, demand, authorization, direction,
notice, consent or waiver hereunder or are present at a meeting of Holders of Series D Senior Notes for quorum purposes, Series D Senior Notes owned by the Company or any other obligor upon the Series D Senior Notes or any Affiliate of the Company
or such other obligor shall be disregarded and deemed not to be Outstanding, except that, in determining whether the Series Trustee shall be protected in making any such determination or relying upon any such request, demand, authorization,
direction, notice, consent or waiver, only Series D Senior Notes which the Series Trustee actually knows to be so owned shall be so disregarded. Series D Senior Notes so owned which shall have been pledged in good faith may be regarded as
Outstanding if the pledgee establishes to the satisfaction of the Series Trustee (A) the pledgee’s right so to act with respect to such Series D Senior Notes and (B) that the pledgee is not the Company or any other obligor upon the
Series D Senior Notes or an Affiliate of the Company or such other obligor. 
  

 4 

 “Principal Property” means any plant or facility of the Company located in the United States
that in the opinion of the Board of Directors or management of the Company is of material importance to the business conducted by the Company and its consolidated Subsidiaries taken as whole. 
 “Reference Treasury Dealer” means: (i) Barclays Capital Inc., and J.P. Morgan Securities Inc. and their respective successors; provided
that, if any such firm or its successors ceases to be a primary U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), the Company shall substitute another Primary Treasury Dealer; and (ii) up to three
other Primary Treasury Dealers selected by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to each
Reference Treasury Dealer and any Redemption Date, the average, as determined by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted
in writing to the Independent Investment Banker at 5:00 p.m., New York City time, on the third Business Day preceding such Redemption Date. 
 “Regular Record Date” means, with respect to each Interest Payment Date, the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series D Senior Notes that are not
represented by one or more Global Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day) preceding such Interest Payment Date. 
 “Remaining Life” means the remaining term of the Series D Senior Notes. 
 “Stated Maturity” means January 15, 2019. 
 The terms “Company,” “Original Trustee,” “Series Trustee,” “Original Indenture,” and “Indenture” shall have the respective meanings set forth in the recitals to this
Thirty-Eighth Supplemental and Amending Indenture and the paragraph preceding such recitals. 
 SECTION 103. Payment of Principal and
Interest. The principal of the Series D Senior Notes shall be due at the Stated Maturity (unless earlier redeemed). The unpaid principal amount of the Series D Senior Notes shall bear interest at the rate of 8.875% per annum until paid or
duly provided for, such interest to accrue from the Original Issue Date or from the most recent Interest Payment Date to which interest has been paid or duly provided for. Interest shall be paid semi-annually in arrears on each Interest Payment Date
to the Person in whose name the Series D Senior Notes are registered on the Regular Record Date for such Interest Payment Date; provided that interest payable at the Stated Maturity of principal, on a Redemption Date or a Repayment Date as provided
herein will be paid to the Person to whom principal is payable. Any such interest that is not so punctually paid or duly provided for will forthwith cease to be payable to the Holders on such Regular Record Date and may either be paid to the Person
or Persons in whose name the Series D Senior Notes are registered at the close of business on a Special Record Date for the payment of such defaulted interest to be fixed by the Series Trustee (in accordance with Section 307 of the Original
Indenture), notice whereof shall be given to Holders of the Series D Senior Notes not less than ten (10) days prior to such Special Record Date, or be paid at any time in any other lawful manner not inconsistent with the requirements of 

  

 5 

 
any securities exchange, if any, on which the Series D Senior Notes may be listed, and upon such notice as may be required by any such exchange, all as more
fully provided in the Original Indenture. 
 Payments of interest on the Series D Senior Notes will include interest accrued to but excluding
the respective Interest Payment Dates. Interest payments for the Series D Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on which interest is payable on the Series D Senior
Notes is not a Business Day, then payment of the interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and
effect as if made on the date the payment was originally payable. 
 Payment of the principal and interest on the Series D Senior Notes shall
be made at the office of the Paying Agent in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, with any such payment that is due at the Stated Maturity of any
Series D Senior Notes, upon redemption or repurchase being made upon surrender of such Series D Senior Notes to the Paying Agent. Payments of interest (including interest on any Interest Payment Date) will be made, subject to such surrender where
applicable, at the option of the Company, (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking
institution in the United States as may be designated in writing to the Series Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. In the event that any date on which principal and interest is
payable on the Series D Senior Notes is not a Business Day, then payment of the principal and interest payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such
delay), in each case with the same force and effect as if made on the date the payment was originally payable. 
 SECTION 104.
Denominations. The Series D Senior Notes may be issued in denominations of $1,000, or any greater integral multiple of $1,000. 
 SECTION 105. Global Securities. The Series D Senior Notes will be issued initially in the form of one or more Global Securities registered in the name of the Depositary (which shall be The Depository Trust Company) or its nominee.
Except under the limited circumstances described below, Series D Senior Notes represented by such Global Securities will not be exchangeable for, and will not otherwise be issuable as, Series D Senior Notes in definitive form. The Global Securities
described above may not be transferred except by the Depositary to a nominee of the Depositary or by a nominee of the Depositary to the Depositary or another nominee of the Depositary or to a successor Depositary or its nominee. 
 Owners of beneficial interests in such a Global Security will not be considered the Holders thereof for any purpose under the Indenture, and no Global
Security representing a Series D Senior Note shall be exchangeable, except for another Global Security of like denomination and tenor to be registered in the name of the Depositary or its nominee or to a successor Depositary or its nominee or except
as described below. The rights of Holders of such Global Security shall be exercised only through the Depositary. 
  

 6 

 A Global Security shall be exchangeable for Series D Senior Notes registered in the names of persons
other than the Depositary or its nominee only if (i) the Depositary notifies the Company that it is unwilling or unable to continue as a Depositary for such Global Security and no successor Depositary shall have been appointed by the Company
within 90 days of receipt by the Company of such notification, or if at any time the Depositary ceases to be a clearing agency registered under the Exchange Act at a time when the Depositary is required to be so registered to act as such Depositary
and no successor Depositary shall have been appointed by the Company within 90 days after it becomes aware of such cessation, or (ii) the Company in its sole discretion determines that such Global Security shall be so exchangeable, in which
case Series D Senior Notes in definitive form will be printed and delivered to the Depositary. Any Global Security that is exchangeable pursuant to the preceding sentence shall be exchangeable for Series D Senior Notes registered in such names as
the Depositary shall direct. 
 SECTION 106. Redemption. The Series D Senior Notes are redeemable, in whole or in part, at any time,
and at the option of the Company, at a Redemption Price equal to the greater of: 
 (i) 100% of the principal amount of Series D Senior Notes
then Outstanding to be so redeemed, or 
 (ii) the sum of the present values of the remaining scheduled payments of principal and interest
thereon (not including any portion of such payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury Rate,
plus 50 basis points, as calculated by an Independent Investment Banker, 
 plus, in either of the above cases, accrued and unpaid interest
thereon to the Redemption Date. 
 Unless the Company defaults in the payment of the Redemption Price, on and after the Redemption Date,
interest will cease to accrue on the Series D Senior Notes or portions thereof called for redemption. 
 The Adjusted Treasury Rate shall be
calculated on the third Business Day preceding the Redemption Date. 
 In the event of the redemption of the Series D Senior Notes in part
only, a new Series D Senior Note or Notes for the unredeemed portion will be issued in the name or names of the Holders thereof upon surrender thereof. 
 The Company shall notify the Series Trustee of the Redemption Price promptly after the calculation thereof and the Series Trustee shall have no responsibility for such calculation. 
 SECTION 107. Repayment at the Option of the Holder. Each Holder of Series D Senior Notes will have the right to require the Company to repurchase
all or any portion of Series D Senior Notes held by the Holder on January 15, 2014 (the “Repayment Date”), at a purchase price equal to 100% of the principal amount of the Series D Senior Notes tendered by such Holder (the
“Repayment Price”). 
  

 7 

 On and after the Repayment Date, interest will cease to accrue on any Series D Senior Notes or portions
thereof tendered for repayment. 
 A Holder’s exercise of the repayment option will be irrevocable, unless waived by the Company.

 In order for any Series D Senior Note to be repaid at the option of the Holder, the Series Trustee must receive, at its Corporate Trust
Office, not more than 60 days nor less than 45 calendar days prior to the Repayment Date, the items referred to in clause (1) or (2) of Section 1303 of the Original Indenture. 
 If the principal amount of any Series D Senior Note surrendered for repayment is not so repaid upon surrender thereof, such principal amount shall, until
paid, bear interest from the Repayment Date at a rate of 8.875%. 
 Upon surrender of any Series D Senior Note which is to be repaid in part
only, the Company shall execute and the Series Trustee shall authenticate and deliver to the Holder of such Series D Senior Note, without service charge and at the expense of the Company, a new Series D Senior Note in an aggregate principal amount
equal to the portion of the principal amount of such Series D Senior Note so surrendered which is not to be repaid. 
 Except as provided in
this Section 107, the repayment option established hereby shall be subject to the provisions of Article XIII of the Original Indenture. 
 SECTION 108. Sinking Fund. The Series D Senior Notes shall not have a sinking fund. 
 SECTION 109. Additional
Interest. Any principal of and installment of interest on the Series D Senior Notes that is overdue shall bear interest at the rate of 8.875% (to the extent that the payment of such interest shall be legally enforceable), from the dates such
amounts are due until they are paid or made available for payment, and such interest shall be payable on demand. 
 SECTION 110. Paying
Agent. The Series Trustee shall initially serve as Paying Agent with respect to the Series D Senior Notes, with the Place of Payment initially being the Corporate Trust Office of the Series Trustee. 
 SECTION 111. Limitation on Liens. The Company will not, while any of the Series D Senior Notes remain Outstanding, create, or suffer to be created
or to exist, any Lien upon any Principal Property of the Company or upon any shares of stock of any Material Subsidiary of the Company, whether such Principal Property is, or shares of stock are, now owned or hereafter acquired, to secure any
indebtedness for borrowed money of the Company, 

  

 8 

 
unless it shall make effective provision whereby the Series D Senior Notes then Outstanding shall be secured by such Lien equally and ratably with any and
all indebtedness for borrowed money thereby secured so long as any such indebtedness shall be so secured; provided, however, that nothing in this Section shall be construed to prevent the Company from creating, or from suffering to be created or to
exist, any Liens, or any agreements, with respect to: 
  

	 	(1)	purchase money mortgages, or other purchase money liens, pledges, security interests or encumbrances of any kind upon property hereafter acquired by the Company, or Liens of any
kind existing on any property or any shares of stock at the time of the acquisition thereof (including Liens which exist on any property or any shares of stock of a Person which is consolidated with or merged with or into the Company or which
transfers or leases all or substantially all of its properties to the Company), or conditional sales agreements or other title retention agreements and leases in the nature of title retention agreements with respect to any property hereafter
acquired; provided, however, that no such Lien shall extend to or cover any other property of the Company; 

  

	 	(2)	 Liens upon any property of the Company or any shares of stock of any Material Subsidiary of the Company existing as of the date of the initial issuance of the
Series D Senior Notes or upon the shares of stock of any corporation, which Liens existed at the time such corporation became a Material Subsidiary of the Company; liens for taxes or assessments or other governmental charges or levies; pledges to
secure other governmental charges or levies; pledges or deposits to secure obligations under worker’s compensation laws, unemployment insurance and other social security legislation, including liens of judgments thereunder which are not
currently dischargeable; pledges or deposits to secure performance in connection with bids, tenders, contracts (other than contracts for the payment of money) or leases to which the Company is a party; pledges or deposits to secure public or
statutory obligations of the Company; builders’, materialmen’s, mechanics’, carriers’, warehousemen’s, workers’, repairmen’s, operators’, landlords’ or other like liens in the ordinary course of business,
or deposits to obtain the release of such liens; pledges or deposits to secure, or in lieu of, surety, stay, appeal, indemnity, customs, performance or return-of-money bonds; other pledges or deposits for similar purposes in the ordinary course of
business; liens created by or resulting from any litigation or proceeding which at the time is being contested in good faith by appropriate proceedings; liens incurred in connection with the issuance of bankers’ acceptances and lines of credit,
bankers’ liens or rights of offset and any security given in the ordinary course of business to banks or others to secure any indebtedness payable on demand or maturing within 12 months of the date that such indebtedness is originally incurred;
liens incurred in connection with repurchase, swap or other similar agreements (including, without limitation, commodity price, currency exchange and interest rate protection agreements); leases made, or existing on property acquired, in the
ordinary course of business; liens securing industrial revenue or pollution control bonds; liens, pledges, security interests or other encumbrances on any property arising in connection with any defeasance, covenant defeasance or in-substance
defeasance of indebtedness of the Company, including the Series D Senior Notes; 

  

 9 

	 	 
liens created in connection with, and created to secure, a non-recourse obligation; zoning restrictions, easements, licenses, rights-of-way, restrictions on
the use of property or minor irregularities in title thereto, which do not, in the opinion of the Company, materially impair the use of such property in the operation of the business of the Company or the value of such property for the purpose of
such business; 

  

	 	(3)	Liens in favor of the United States, any foreign country or any department, agency or instrumentality or political subdivision of any such jurisdiction, to secure partial, progress,
advance or other payments pursuant to any contract or statute or to secure any indebtedness incurred for the purpose of financing all or any part of the purchase price or the cost of constructing or improving the property subject to such mortgages,
including, without limitation, mortgages to secure indebtedness of the pollution control or industrial revenue bond type; 

  

	 	(4)	indebtedness which may be issued by the Company in connection with a consolidation or merger of the Company or any Material Subsidiary of the Company with or into any other Person
(which may be an Affiliate of the Company or any Material Subsidiary of the Company) in exchange for or otherwise in substitution for secured indebtedness of such Person (“Third Party Debt”) which by its terms (i) is secured by a
mortgage on all or a portion of the property of such Person, (ii) prohibits secured indebtedness from being incurred by such Person, unless the Third Party Debt shall be secured equally and ratably with such secured indebtedness or
(iii) prohibits secured indebtedness from being incurred by such Person; 

  

	 	(5)	indebtedness of any Person which is required to be assumed by the Company in connection with a consolidation or merger of such Person, with respect to which any property of the
Company is subjected to a Lien; 

  

	 	(6)	Liens of any kind upon any property acquired, constructed, developed or improved by the Company (whether alone or in association with others) after the date of the initial issuance
of the Series D Senior Notes which are created prior to, at the time of, or within 18 months after such acquisition (or in the case of property constructed, developed or improved, after the completion of such construction, development or improvement
and commencement of full commercial operation of such property, whichever is later) to secure or provide for the payment of any part of the purchase price or cost thereof; provided that in the case of such construction, development or improvement
the Liens shall not apply to any property theretofore owned by the Company other than theretofore unimproved real property; 

  

	 	(7)	Liens in favor of the Company, one or more Material Subsidiaries of the Company, one or more wholly-owned Subsidiaries of the Company or any of the foregoing in combination;

  

	 	(8)	 the replacement, extension or renewal (or successive replacements, extensions or 

  

 10 

	 	 
renewals), as a whole or in part, of any Lien, or of any agreement, referred to above in clauses (1) through (7) inclusive, or the replacement,
extension or renewal (not exceeding the principal amount of indebtedness secured thereby together with any premium, interest, fee or expense payable in connection with any such replacement, extension or renewal) of the indebtedness secured thereby;
provided that such replacement, extension or renewal is limited to all or a part of the same property that secured the Lien replaced, extended or renewed (plus improvements thereon or additions or accessions thereto); or

  

	 	(9)	any other Lien not excepted by the foregoing clauses (1) through (8); provided that immediately after the creation or assumption of such Lien, the aggregate principal amount of
indebtedness for borrowed money of the Company secured by all Liens created or assumed under the provisions of this clause (9) shall not exceed an amount equal to 10% of the common shareholders’ equity of the Company, as shown on its
consolidated balance sheet for the accounting period occurring immediately prior to the creation or assumption of such Lien. 

 This Section 111 has been included in this Thirty-Eighth Supplemental and Amending Indenture expressly and solely for the benefit of the Series D Senior Notes and shall be subject to covenant defeasance pursuant to Section 402(3)
of the Original Indenture. 
 ARTICLE II 
 AMENDMENTS TO THE ORIGINAL INDENTURE 
 SECTION 201. Amendment to Section 101. The
definition of “Trustee” as set forth in Section 101 of the Original Indenture is hereby amended to read as follows: 
 “
‘Trustee’ means the Person named as the ‘Trustee’ in the first paragraph of this instrument until a successor Trustee shall have become such with respect to one or more series of Securities pursuant to the applicable provisions
of this Indenture or until a Trustee for a series of Securities shall have become such pursuant to Section 301(22) of this Indenture, and thereafter “Trustee” shall mean each Person who is then a Trustee hereunder, provided, however,
that if at any time there is more than one such Person, “Trustee” shall mean each such Person and as used with respect to the Securities of any series shall mean the Trustee with respect to the Securities of such series.” 

SECTION 202. Amendment to Section 301. Section 301(22) of the Original Indenture is hereby amended and restated as follows:

 “(22) if other than the Person named as the ‘Trustee’ in the first paragraph of this instrument (or a successor to such
Person pursuant to the applicable provisions of this Indenture) (for purposes of this clause (22), herein called the “Original Trustee”), the identity of a Trustee for the Securities of the series (a “Series Trustee”), and if not
the Series Trustee, the identity of each Security Registrar, Paying Agent or Authenticating Agent with respect to such Securities, and such additions or changes to any provisions of this Indenture as shall be necessary to provide for or facilitate
the administration of the trusts hereunder by more than one Trustee, it being 

  

 11 

 
understood, anything contained herein or in any Company Resolution, Officers’ Certificate or supplemental indenture to the contrary notwithstanding,
that (i) nothing herein shall constitute such Trustees co-trustees of the same trust, (ii) each such Trustee shall be a trustee of a trust or trusts hereunder separate and apart from any trust or trusts hereunder administered by any other
such Trustee, (iii) the Series Trustee shall have all the rights, powers, trusts and duties of the Original Trustee with respect to, and only with respect to, the Securities of the series, (iv) the Original Trustee shall have no rights,
powers, trusts and duties with respect to the Securities of the series, (v) no Trustee hereunder shall have any liability for any acts or omissions of any other Trustee hereunder and (vi) no appointment of a Series Trustee shall become
effective until the acceptance of the appointment by the Series Trustee is evidenced in writing;” 
 ARTICLE III 
 THE SERIES TRUSTEE 
 SECTION 301.
Appointment of Series Trustee. Pursuant to the Original Indenture and pursuant to this Thirty-Eighth Supplemental and Amending Indenture, the Company hereby appoints the Series Trustee as Trustee under the Original Indenture with respect to,
and only with respect to, the Series D Senior Notes, and by execution hereof the Series Trustee accepts such appointment. Pursuant to the Original Indenture, all the rights, powers, trusts and duties of the Original Trustee under the Original
Indenture shall be vested in the Series Trustee with respect to the Series D Senior Notes, there shall continue to be vested in the Original Trustee all of its rights, powers, trusts and duties as Trustee under the Original Indenture with respect to
all of the series of Securities as to which it has served and continues to serve as Trustee, and the Original Trustee shall have no rights, powers, trusts and duties with respect to the Series D Senior Notes. 
 SECTION 302. Eligibility of Series Trustee. The Series Trustee hereby represents that it is qualified and eligible under the provisions of the
Trust Indenture Act and Section 608 of the Original Indenture and the provisions of the Trust Indenture Act to accept its appointment as Trustee with respect to the Series D Senior Notes under the Original Indenture and hereby accepts the
appointment as such Trustee. 
 SECTION 303. Security Registrar and Paying Agent. Pursuant to the Original Indenture, the Company
hereby appoints Deutsche Bank Trust Company Americas as “Security Registrar” and “Paying Agent” with respect to the Series D Senior Notes. 
 SECTION 304. Concerning the Trustees. Neither the Original Trustee nor the Series Trustee assumes any duties, responsibilities or liabilities by reason of this Thirty-Eighth Supplemental and Amending Indenture
other than as set forth in the Original Indenture and, in carrying out its responsibilities hereunder, each shall have all of the rights, powers, privileges, protections, duties and immunities which it possesses under the Original Indenture. The
Original Trustee and the Series Trustee shall not constitute co-trustees of the same trust, and each of the Original Trustee and the Series Trustee shall be trustee of a trust or trusts under the Indenture separate and apart from any trust or trusts
under the Indenture administered by the other trustee. The Original Trustee shall have no liability for any acts or omissions of the Series Trustee and the Series Trustee shall have no liability for any acts or omissions of the Original Trustee.

  

 12 

 References in this Thirty-Eighth Supplemental and Amending Indenture to sections of the Original
Indenture that require or permit actions by the Original Trustee with respect to Securities of the series established hereby shall be deemed to require or permit actions only by the Series Trustee and the Original Trustee shall have no
responsibility therefor. 
 SECTION 305. Patriot Act Requirements of Series Trustee. To help the United States government fight the
funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account or establishes a relationship. For a non-individual
person such as a business entity, a charity, a trust, or other legal entity, the Series Trustee will ask for documentation to verify such non-individual person’s formation and existence as a legal entity. The Series Trustee may also seek to see
financial statements, licenses, identification and authorization documents from individuals claiming authority to represent the entity or other relevant documentation. 
 ARTICLE IV 
 MISCELLANEOUS PROVISIONS 
 SECTION 401. Recitals by Company. The recitals in this Thirty-Eighth Supplemental and Amending Indenture are made by the Company only and not by
the Original Trustee or the Series Trustee, and all of the provisions contained in the Original Indenture in respect of the rights, powers, privileges, protections, duties and immunities of the Original Trustee shall be applicable, but only to the
Series Trustee in respect of the Series D Senior Notes and of this Thirty-Eighth Supplemental and Amending Indenture (to the extent relating to the Series D Senior Notes) as fully and with like effect as if set forth herein in full. 
 SECTION 402. Ratification and Incorporation of Original Indenture. As supplemented hereby, the Original Indenture is in all respects ratified and
confirmed, and the Original Indenture and this Thirty-Eighth Supplemental and Amending Indenture shall be read, taken and construed as one and the same instrument. 
 SECTION 403. Executed in Counterparts. This Thirty-Eighth Supplemental and Amending Indenture may be executed in several counterparts, each of which shall be deemed to be an original, and such counterparts
shall together constitute but one and the same instrument. 
 SECTION 404. Assignment. The Company shall have the right at all times
to assign any of its rights or obligations under the Indenture with respect to the Series D Senior Notes to a direct or indirect wholly-owned subsidiary of the Company; provided that, in the event of any such assignment, the Company shall remain
primarily liable for the performance of all such obligations. The Indenture may also be assigned by the Company in connection with a transaction described in Article Eight of the Original Indenture. 
  

 13 

 IN WITNESS WHEREOF, each party hereto has caused this instrument to be signed in its name and behalf by
its duly authorized officer, all as of the day and year first above written. 
  

			
	DOMINION RESOURCES, INC.
		
	By:	 	  

	Name:	 	G. Scott Hetzer
	Title:	 	Senior Vice President and Treasurer
	
	THE BANK OF NEW YORK MELLON
	 (SUCCESSOR TO JPMORGAN CHASE BANK,
 N.A.
(FORMERLY KNOWN AS THE CHASE
 MANHATTAN BANK)), as Original Trustee,
 solely for purposes of Articles II, III and IV hereof.

		
	By:	 	  

	Name:	 	Larry O’Brien
	Title:	 	Vice President
	
	 DEUTSCHE BANK TRUST COMPANY
 AMERICAS, as
Series Trustee

		
	By:	 	  

	Name:	 	
	Title:	 	
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 14 

 EXHIBIT A 
 FORM OF 
 2008 SERIES D 8.875% SENIOR NOTE 
 DUE 2019 
 [UNLESS THIS CERTIFICATE IS
PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF
[CEDE & CO.] OR SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY AND ANY PAYMENT IS MADE TO [CEDE & CO.], ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY
PERSON IS WRONGFUL SINCE THE REGISTERED OWNER HEREOF, [CEDE & CO.], HAS AN INTEREST HEREIN.]** 
 [THIS SERIES D SENIOR NOTE IS A
GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS SERIES D SENIOR NOTE MAY NOT BE EXCHANGED IN WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO
TRANSFER OF THIS SERIES D SENIOR NOTE IN WHOLE OR IN PART MAY BE REGISTERED, IN THE NAME OF ANY PERSON OTHER THAN SUCH DEPOSITARY OR A NOMINEE THEREOF, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.]** 
  
  
 DOMINION RESOURCES, INC. 
  
  
 $             
 2008 SERIES D 8.875% SENIOR NOTE 
 DUE 2019 
  

			
	No. R-	 	CUSIP No. 25746U BG 3

 Dominion Resources, Inc., a corporation duly organized and existing under the laws of Virginia
(herein called the “Company”, which term includes any successor Person under the Indenture hereinafter referred to), for value received, hereby promises to pay to [Cede & Co.]**, or registered assigns (the “Holder”), the
principal sum of                                  Dollars
($            ) on January 15, 2019 and to pay interest thereon from December 1, 2008 or from the most recent Interest Payment Date to which interest has been paid or
duly provided for, semi-annually in arrears on January 15 and July 15 of each year, commencing on July 15, 2009, 

  

  

	**	Insert in Global Securities. 

  

 15 

 
at the rate of 8.875% per annum, until the principal hereof is paid or made available for payment, provided that any principal, and any such installment
of interest, that is overdue shall bear interest at the rate of 8.875% per annum (to the extent that the payment of such interest shall be legally enforceable), from the dates such amounts are due until they are paid or made available for
payment, and such interest shall be payable on demand. The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, as provided in such Indenture, be paid to the Person in whose name this Series D Senior Note
(or one or more Predecessor Securities) is registered at the close of business on the Regular Record Date for such interest; provided that the interest payable at Stated Maturity, on a Redemption Date or a Repayment Date will be paid to the Person
to whom principal is payable. The Regular Record Date shall be the close of business on the Business Day preceding such Interest Payment Date; provided, that with respect to Series D Senior Notes that are not represented by one or more Global
Securities, the Regular Record Date shall be the close of business on the 15th calendar day (whether or not a Business Day) preceding such Interest Payment Date. Any such interest not so punctually paid or duly provided for will forthwith cease to
be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Series D Senior Note (or one or more Predecessor Securities) is registered at the close of business on a Special Record Date for the payment
of such Defaulted Interest to be fixed by the Series Trustee, notice whereof shall be given to Holders of Series D Senior Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Series D Senior Notes may be listed, and upon such notice as may be required by such exchange, all as more fully provided in said Indenture. 
 Payments of interest on the Series D Senior Notes will include interest accrued to but excluding the respective Interest Payment Dates. Interest payments
for the Series D Senior Notes shall be computed and paid on the basis of a 360-day year of twelve 30-day months. In the event that any date on which interest is payable on the Series D Senior Notes is not a Business Day, then payment of the interest
payable on such date will be made on the next succeeding day that is a Business Day (and without any interest or payment in respect of any such delay), in each case with the same force and effect as if made on the date the payment was originally
payable. 
 Payment of the principal of and interest on this Series D Senior Note will be made at the office of the Paying Agent, in the
Borough of Manhattan, City and State of New York, in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts, with any such payment that is due at the Stated Maturity of
any Series D Senior Note, upon redemption or repurchase being made upon surrender of such Series D Senior Note to such office or agency; provided, however, that at the option of the Company payment of interest, subject to such surrender where
applicable, may be made (i) by check mailed to the address of the Person entitled thereto as such address shall appear in the Security Register or (ii) by wire transfer at such place and to such account at a banking institution in the
United States as may be designated in writing to the Series Trustee at least sixteen (16) days prior to the date for payment by the Person entitled thereto. 
 The Holder of this Series D Senior Note will have the right to require the Company to repurchase all or any portion of this Series D Senior Note on January 15, 2014 (the “Repayment 

  

 2 

 
Date”) at a purchase price equal to 100% of the principal amount (the “Repayment Price”) of this Series D Senior Note or portion thereof
tendered by such Holder subject to the further provisions pertaining thereto on the reverse hereof. 
 Reference is hereby made to the
further provisions of this Series D Senior Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless the certificate of authentication hereon has been executed by the Series Trustee referred to on the reverse hereof by manual signature, this
Series D Senior Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose. 
 IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed. 
  

					
	Dated:                     	 	DOMINION RESOURCES, INC.
			
		 	By:	 	  

		 	Name:	 	  

		 	Title:	 	  

  

 3 

 [REVERSE OF 2008 SERIES D 8.875% SENIOR NOTE] 
 This Security is one of a duly authorized issue of securities of the Company (herein called the “Securities”), issued and to be issued in one
or more series under an Indenture, dated as of June 1, 2000, as heretofore supplemented and amended, between the Company and The Bank of New York Mellon (successor to JPMorgan Chase Bank, N. A. (formerly known as The Chase Manhattan Bank)), as
Trustee (herein called the “Original Trustee”), and as further supplemented and amended by a Thirty-Eighth Supplemental and Amending Indenture dated as of November 1, 2008, by and among the Company, the Original Trustee and Deutsche
Bank Trust Company Americas, as Trustee of the series of Securities established thereby (herein called the “Series Trustee,” which term includes any successor series trustee for the Series D Senior Notes under the Indenture) (collectively,
as amended or supplemented through the date hereof and from time to time, herein called the “Indenture,” which term shall have the meaning assigned to it in such instrument), and reference is hereby made to the Indenture for a statement of
the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Original Trustee, the Series Trustee and the Holders of the Securities and of the terms upon which the Securities are, and are to be, authenticated
and delivered. This Security is one of the series designated on the face hereof (the “Series D Senior Notes”) which is unlimited in aggregate principal amount. 
 The Series D Senior Notes are redeemable, in whole or in part, at any time, in the manner and with the effect provided in the Indenture. 
 As indicated on the face of this Security, the Company may be required to repurchase this Security at the option of the Holder, in whole or in part, on the Repayment Date and at the Repayment Price so indicated on the
face hereof. On or before the Repayment Date, the Company shall deposit with the Series Trustee money sufficient to pay the applicable Repayment Price on the portion of this Security to be tendered for repayment. On and after such Repayment Date,
interest will cease to accrue on this Security or any portion hereof tendered for repayment. 
 The repayment option may be exercised by the
Holder of this Security for less than the entire principal amount hereof, but in that event, the principal amount hereof remaining outstanding after repayment must be in an authorized denomination. In the event of repurchase of this Security in part
only, a new Security or Securities of this series and of like tenor for the unpurchased portion hereof will be issued in the name of the Holder hereof upon the cancellation hereof. 
 In order for this Security to be repaid, the Series Trustee must receive at least 45 days but not more than 60 days prior to the Repayment Date
(i) this Security with the form entitled “Option to Elect Repayment” attached to this Security duly completed or (ii) facsimile transmission or a letter from a member of a national securities exchange or the Financial Industry
Regulatory Authority, Inc. or a commercial bank or trust company in the United States setting forth the name of the Holder of this Security, the principal amount of this Security, the principal amount of this Security to be repaid, the certificate
number or a description of the tenor and the terms of this Security, a statement that the option to elect repayment is being exercised thereby, and a guarantee that this Security to be repaid, together with the duly completed form entitled
“Option to Elect Repayment” attached to this Security, will be received by the Series Trustee not 

  

 4 

 
later than the fifth Business Day after the date of such facsimile transmission or letter; however, such facsimile transmission or letter shall only be
effective if this Security and duly completed form are received by the Series Trustee by such fifth Business Day. Such notice, once given, will be irrevocable unless waived by the Company. 
 If an Event of Default with respect to Series D Senior Notes shall occur and be continuing, the principal of the Series D Senior Notes may be declared
due and payable in the manner and with the effect provided in the Indenture. 
 The Indenture permits, with certain exceptions as therein
provided, the amendment thereof and the modification of the rights and obligations of the Company and the rights of the Holders of the Securities of each series to be affected under the Indenture at any time by the Company and the Trustee for the
series of Securities affected, with the consent of the Holders of a majority in principal amount of the Securities at the time Outstanding of each series to be affected. The Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Securities of each series at the time Outstanding, on behalf of the Holders of all Securities of such series, to waive certain past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Series D Senior Note shall be conclusive and binding upon such Holder and upon all future Holders of this Series D Senior Note and of any Series D Senior Note issued upon the registration of transfer hereof or in
exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Series D Senior Note. 
 As provided
in and subject to the provisions of the Indenture, the Holder of this Series D Senior Note shall not have the right to institute any proceeding with respect to the Indenture or for the appointment of a receiver or trustee or for any other remedy
thereunder, unless such Holder shall have previously given the Series Trustee written notice of a continuing Event of Default with respect to the Series D Senior Notes, the Holders of not less than a majority in principal amount of the Series D
Senior Notes at the time Outstanding shall have made written request to the Series Trustee to institute proceedings in respect of such Event of Default as Series Trustee and offered the Series Trustee reasonable indemnity, and the Series Trustee
shall not have received from the Holders of a majority in principal amount of Series D Senior Notes at the time Outstanding a direction inconsistent with such request, and shall have failed to institute any such proceeding for 60 days after receipt
of such notice, request and offer of indemnity. The foregoing shall not apply to any suit instituted by the Holder of this Series D Senior Note for the enforcement of any payment of principal hereof or premium, if any, or interest hereon on or after
the respective due dates expressed or provided for herein. 
 No reference herein to the Indenture and no provision of this Series D Senior
Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of, premium, if any, and interest on this Series D Senior Note at the times, place and rate, and in the coin or
currency, herein prescribed. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this
Series D Senior Note is registrable in the Security Register, upon surrender of this Series D Senior Note for registration of transfer at the office or agency of the Company in any place where the principal of, premium, if any, and interest on this
Series D Senior Note are 

  

 5 

 
payable, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Company and the Security Registrar duly executed
by, the Holder hereof or his attorney duly authorized in writing, and thereupon one or more new Series D Senior Notes of like tenor, of authorized denominations and for the same aggregate principal amount, will be issued to the designated transferee
or transferees. 
 The Series D Senior Notes are issuable only in registered form without coupons in denominations of $1,000 and any greater
integral multiple of $1,000. As provided in the Indenture and subject to certain limitations therein set forth, Series D Senior Notes are exchangeable for a like aggregate principal amount of Series D Senior Notes having the same Stated Maturity and
of like tenor of any authorized denominations as requested by the Holder upon surrender of the Series D Senior Note or Series D Senior Notes to be exchanged at the office or agency of the Company. 
 No service charge shall be made for any such registration of transfer or exchange, but the Company may require payment of a sum sufficient to cover any
tax or other governmental charge payable in connection therewith. 
 Prior to due presentment of this Series D Senior Note for registration
of transfer, the Company, the Series Trustee and any agent of the Company or the Series Trustee may treat the Person in whose name this Security is registered as the owner hereof for all purposes, whether or not this Series D Senior Note be overdue,
and neither the Company, the Series Trustee nor any such agent shall be affected by notice to the contrary. 
 All terms used in this Series
D Senior Note that are defined in the Indenture shall have the meanings assigned to them in the Indenture. 
  

 6 

 ABBREVIATIONS 
 The following abbreviations, when used in the inscription on the face of this instrument, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

					
	TEN COM -	 	as tenants in common	 	
			
	TEN ENT -	 	as tenants by the entireties	 	
			
	JT TEN -	 	 as joint tenants with rights of survivorship and not as
 tenants in common
	 	
			
	UNIF GIFT MIN ACT -	 	  
	 	Custodian for
		 	(Cust)	 	
			
		 	  
	 	
		 	(Minor)	 	
			
		 	Under Uniform Gifts to Minors Act of	 	
			
		 	  
	 	
		 	(State)	 	
	
	Additional abbreviations may also be used though not on the above list.
	  
	 	

  

 7 

			
	FOR VALUE RECEIVED, the undersigned hereby sell(s) and transfer(s) unto	 	
		
	  
	 	.
		
	(please insert Social Security or other identifying number of assignee)	 	
		
	  
	 	.
		
	  
	 	.
		
	  
	 	.
		
	PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF ASSIGNEE	 	
		
	the within Series D Senior Note and all rights thereunder, hereby irrevocably constituting and appointing	 	
		
	  
	 	.
		
	  
	 	.
		
	  
	 	.
		
	  
	 	.
		
	  
	 	.
		
	  
	 	.
		
	agent to transfer said Series D Senior Note on the books of the Company, with full power of substitution in the premises.	 	

					
			
	Dated:                  ,         	 		 	
			
		 	  
	 	
	
	NOTICE: The signature to this assignment must correspond with the name as written upon the face of the within instrument in every particular without alteration or enlargement, or any
change whatever.

  

 8 

 OPTION TO ELECT REPAYMENT 
 The undersigned hereby irrevocably requests and instructs the Company to repay the within Security (or portion thereof specified below) on the Repayment
Date pursuant to its terms at the applicable Repayment Price set forth on the face thereof, together with the interest to the Repayment Date, to the undersigned at 
  

	
	  

	
	  

	
	  

 (Please print or typewrite name and address of the undersigned) 
 If less than the entire principal amount of the within Security is to be repaid, specify the portion thereof which the Holder elects to have repaid:
                    ; and specify the denomination or denominations (which shall not be less than the minimum authorized denomination) of the
Series D Senior Notes to be issued to the Holder for the portion of the within Security not being repaid (in the absence of any such specification, one such Security will be issued for the portion not being repaid):
                    . 
  

							
	Dated:	  	  
	  		  	  

 NOTE: The signature on this Option to Elect Repayment must correspond with the name as written
upon the face of the within instrument in every particular without alteration or enlargement. 
  

 9 

 EXHIBIT B 
 CERTIFICATE OF AUTHENTICATION 
 This is one of the Securities of the series designated therein
referred to in the within-mentioned Indenture. 
  

			
	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	as Series Trustee
		
	By:	 	  

		 	Authorized Signatory

  

 10Agent Stock Purchase Plan

 Exhibit 10.1 
 FREMONT MICHIGAN INSURACORP, INC. 
 AGENT STOCK PURCHASE PLAN 
 (Effective: December 1, 2008) 
  

	 	I.	PURPOSE; GENERAL 

 1.1 Purpose. The Fremont
Michigan InsuraCorp, Inc. Agent Stock Purchase Plan (the “Plan”) has been established by Fremont Michigan InsuraCorp, Inc., a Michigan corporation (the “Company”), to provide incentive to independent insurance
agencies that sell products and services of its subsidiary, Fremont Insurance Company, a Michigan insurance corporation (the “Insurance Company”), by enabling them to participate in the Company’s long-term growth and success
and to help align their success with the interests of the Company’s stockholders. 
 1.2 General. The Plan allows each Eligible
Agency (defined below) and those Eligible Persons (defined below) designated by an Eligible Agency to purchase shares of the Common Stock (defined below) of the Company. An Eligible Agency may elect to apply all or a portion of its Earned Base
Commissions and Profit-Sharing Commissions to purchase Common Stock under the Plan. Eligible Agencies and Eligible Persons may elect to make cash contributions to purchase Common Stock under the Plan. The Company offers shares of its Class A
Common Stock under the Plan at a 10% discount from Fair Market Value on the Purchase Date. Participants pay no brokerage commissions or other charges on such purchases under the Plan. 
 1.3 Private Placement of Unregistered Common Stock. The Common Stock offered by the Company under this Plan has not been registered with, or
approved, by the United States Securities and Exchange Commission (“SEC”). The offering of the Common Stock under the Plan is based on an exemption from such registration as set forth in §4(2) of the Securities Act of 1933, as
amended (“Act”), and Rule 506 of Regulation D issued under the Act. The offering is being made only to eligible agencies of the Insurance Company and eligible persons designated by those agencies who are “accredited
investors” as defined under Regulation D issued under the Act and to not more than 35 eligible persons in any 12 month period who may not be accredited investors, but are “sophisticated” investors. Resales of the unregistered
Class A Common Stock will require registration or the availability of an exemption to registration such as SEC Rule 144. 
  

	 	II.	DEFINITIONS 

 2.1 “Accredited Investor”
means any natural person who has, or the Company reasonably believes to have, either (a) an individual net worth, or joint net worth with that person’s spouse, at the time of the purchase that exceeds $1,000,000, or (b) an
individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year. An
Accredited Investor also means an entity if all of the equity owners of the entity are accredited investors. 
 2.2 “Act”
means the Securities Act of 1933, as amended. 
 2.3 “Committee” means the Compensation Committee of the Company’s
Board of Directors. 
 2.4 “Common Stock” means the Company’s Class A Common Stock without par value that is
available for purchase under this Plan. 
 2.5 “Company” means Fremont Michigan InsuraCorp, Inc., a Michigan corporation.

 2.6 “Contribution Amount” means the dollar amount to be invested by a Participant on the
next Purchase Date including the amount to be paid in cash by check plus, in the case of an Eligible Agency, the amount or percentage to be deducted from the payment of Earned Base Commissions or Profit-Sharing Commissions, to purchase shares of
Common Stock for a Participant for whom an Enrollment/Subscription Agreement is submitted. 
 2.7 “Contribution Date” means
the last business day of the Enrollment Period immediately prior to each Purchase Date and is the date by which the Company must have the Participant’s fully completed and executed Enrollment/Subscription Agreement together with a check for any
purchases elected by the cash payment method. 
 2.8 “Disclosure Documents” means the (a) Plan;
(b) Enrollment/Subscription Agreements; (c) Company’s Private Placement Memorandum dated December 1, 2008 for the Plan and any Private Placement Memorandum Supplements; (d) Company’s most recent Annual Report on Form
10-K; and (e) Company’s most recent Quarterly Report on Form 10-Q. 
 2.9 “Earned Base Commissions or Profit-Sharing
Commissions” means those commissions that are fully earned and are due and payable to a participating Eligible Agency as determined by and solely from the records of the Insurance Company. 
 2.10 “Eligible Agency” shall have the meaning given in Section 3.1 below. 
 2.11 “Eligible Person” means a Principal, Key Employee or a Benefit Plan as defined in Section 3.2 below and designated by an
Eligible Agency. 
 2.12 “Enrollment/Subscription Agreement” means the form attached hereto as Exhibit “A” as may
be amended by the Company from time to time. Such form is the sole means for subscribing and making purchases of Common Stock under the Plan. 
 2.13 “Enrollment Period” shall mean the enrollment period between January 15, 2009 and February 27, 2009 for the first Purchase Date of March 5, 2009. For all subsequent Purchase Dates, the enrollment period
shall be the period of time from the 15th day and until the last business day of February, May, August and November during which times Participants may submit Enrollment/Subscription Agreements to the Company. 
 2.14 “Fair Market Value” means, with respect to the Common Stock on a given date: (a) if the Common Stock is listed for trading on
a national securities exchange (including, for this purpose, the National Market System (“NMS”) of the National Association of Securities Dealers Automated Quotation System (“NASDAQ”)) on that date, the closing share price on
that exchange (or, if there is more then one, the principal such exchange), or, for the NMS, the last sale price, on the day immediately preceding the date as of which fair market value is being determined, or on the next preceding day on which
shares were traded if no shares were traded on the immediately preceding day; (b) if the Common Stock is not listed for trading on any securities exchange (including the NMS) on that date but are reported by NASDAQ, and market information
concerning the Common Stock is published on a regular basis in The Wall Street Journal or The New York Times, the average of the daily bid and low asked prices of the Common Stock, as so published, on the day nearest preceding the date in question
for which the prices were published; (c) if (a) is inapplicable and market information concerning the Common Stock is not regularly published as described in (b), the average of the high bid and low asked prices of the Common Stock in the
over-the-counter market averaged over the last ten (10) trading days nearest preceding the date in question as reported by NASDAQ (or, if NASDAQ does not report prices for the Shares, another generally accepted reporting service); or
(d) if none of the above are applicable, the fair market value of a share as, of the date in question, determined by the Committee. 
  

 2 

 2.15 “Insurance Company” means Fremont Insurance Company, a Michigan insurance company.

 2.16 “Maximum Contribution Amounts” means the highest amount that each Eligible Agency, including its designated Eligible
Persons, may invest to purchase Common Stock under the Plan in any given calendar quarter as set forth in the chart below and is based upon the amount of Written Premiums by such Eligible Agency during the most recent previous calendar year with the
Insurance Company: 
  

				
	 Written Premiums:
	  	Maximum Contribution Amounts:
	 Less than $1,000,000
	  	$	30,000
	 $1,000,000 or more
	  	$	50,000

 2.17 “Minimum Purchase Amount” is Five Hundred Dollars ($500.00) and is the
smallest amount that may be designated or paid by a Participant for the purchase of Common Stock in any quarter under the Plan. 
 2.18
“Participant” means an Eligible Person that has signed a fully completed Enrollment/Subscription Agreement that has been accepted by the Company in writing. 
 2.19 “Plan Agent” means the Registrar and Transfer Company, the Company’s stock transfer agent and registrar. 
 2.20 “Purchase Date” means March 5, 2009 for the first purchase under this Plan and for all subsequent purchases shall be the 5th day of March, June, September and December of each year or the
next succeeding business day. 
 2.21 “Sophisticated Investor” means a person who has, or whom the issuer reasonably
believes has, individually, or with the help of a purchaser representative, knowledge and experience in financial and business matters such that he is capable of evaluating the merits and risks of this investment. 
 2.22 “Written Premiums” means the written premiums, less cancellations and returns, recorded by the Insurance Company for an Eligible
Agency. 
 2.23 “SEC” means the United States Securities and Exchange Commission. 
  

	 	III.	PARTICIPATION 

 3.1 Eligible Agency. Any
independent insurance agency under contract with and selling products of the Insurance Company may participate as an Eligible Agency if the agency (a) is an appointed agent of and in good standing with the Insurance Company and (b) has
been designated by the Company as an Eligible Agency. The Company may, in its sole discretion, designate eligibility based upon any one or more other factors, which it deems appropriate. 
 3.2 Eligible Persons. In addition, each Eligible Agency may designate one or more of the following persons as eligible to purchase shares under
the Plan: (a) principals, members, general partners, officers and stockholders of the Eligible Agency (“Principals”); (b) key employees of an Eligible Agency (“Key Employees”); and (c) individual
retirement plans of Principals and Key Employees and Keogh plans of Principals and Key Employees (“Benefit Plans”). 
  

 3 

 No later than January 10th, or the next business day following such day, of each year, each Eligible
Agency shall provide the Company a list of all Eligible Persons designated by such Eligible Agency as of such date for the next succeeding year. The Eligible Agency shall notify the Company of any deletions from such list no later than the next
Contribution Date. Eligible Agencies may not add any Principals, Key Employees, or Benefit Plans to the list of Eligible Persons designated by such Eligible Agency until January 10th of the next succeeding year. 
 The Company or its designee shall, in its sole discretion, determine whether any Eligible Agency, or Eligible Person is eligible to be a Participant in
the Plan. Each Eligible Person or Participant must also establish to the satisfaction of the Company that it is an “accredited Investor.” Provided, however, the Company may waive this requirement for a limited number of Participants if the
person is a “sophisticated investor” and the Company is assured that such person’s participation will not jeopardize the offering of the shares under the Plan as an exemption to registration under the Act. Further, the Company
reserves the right, in its sole discretion, to revoke an agency’s status as an Eligible Agency at any time and for any reason. In the event that the agency relationship with the Insurance Company is terminated for any reason, the status of an
Eligible Agency and its designated Eligible Persons shall automatically terminate without notice. 
 An Eligible Agency and Eligible Person
are under no obligation to participate in the Plan or to purchase shares of Common Stock under the Plan. The Plan is for the benefit only of the Participants. No other persons shall be direct or indirect beneficiaries or participants in the Plan.
The Company shall not be obligated with respect to the Plan under any other arrangements between an Eligible Agency and any other person, including, but not limited to, the Eligible Agency’s Principals, Key Employees and Benefit Plans.

 3.3 Enrollment. The Company shall deliver the Disclosure Documents to each Eligible Agency for distribution to each Eligible
Person. The Enrollment/Subscription Agreement will include representations of the Participant’s investment intent and investor suitability. An Eligible Agency or Eligible Person may enroll in the Plan only during an Enrollment Period by
delivering the completed and signed Enrollment/Subscription Agreement to the Company. An Eligible Agency or Eligible Person shall become a Participant in the Plan only after (a) the Eligible Agency or Eligible Person acknowledges receipt of the
Disclosure Documents; (b) delivery to the Company of a properly completed Enrollment/Subscription Agreement signed by such Eligible Agency or Eligible Person, and (c) the Company makes a determination that the Participant is eligible to
become a Participant in the Plan and accepts the enrollment in writing. Since participation in the Plan is available to only a limited number of “non-accredited investors,” the Company retains the right to deny participation to any person
in the Company’s sole discretion. 
 By returning a properly completed and signed Enrollment/Subscription Agreement to the Company, the
Eligible Agency and participating Eligible Person each acknowledge the receipt of the Disclosure Documents. Completed and signed Enrollment/Subscription Agreements and Contribution Amounts must be delivered to the Company’s office at: 933 East
Main Street, Fremont, Michigan 49412, Attention: Kevin G. Kaastra. 
 Properly completed forms and necessary payments must be received by the
Company on or before the Contribution Date prior to the applicable Purchase Date. If necessary payments are not received by the applicable Contribution Date, the Company may reject the purchase or reduce the purchase amount. If rejected, any
payments received after the Contribution Date will be returned without interest as soon as reasonably practical. 
  

 4 

 3.4 Purchasing Shares of Common Stock. Shares may generally be purchased by Participants under the
Plan on the Purchase Dates, however, the Company does not guarantee that such days will be Purchase Dates and may designate other dates as Purchase Dates. The Company does not pay any interest on cash payments received under the Plan. Each
Participant shall designate the Contribution Amount, however, the aggregate contributions by all Participants affiliated with any one Eligible Agency shall not to exceed the Maximum Contribution Amount. The Participant shall complete the appropriate
sections of the Enrollment/Subscription Agreement designating the amount, if any, of the Contribution Amount that (a) is to be paid in cash by check; and (b) for an Eligible Agency the amount or percentage, if any, that is to be deducted
from the payment of Earned Base Commissions or Profit-Sharing Commissions. The Contribution Amount designations regarding the Earned Base Commissions or Profit-Sharing Commissions shall remain in effect until revoked or modified in writing by such
Eligible Agency, which revocation or modification will take effect for the next practicable Purchase Date. The Contribution Amount designation regarding cash shall only remain in effect for the next Purchase Date. Purchases shall be made under the
Plan on the next applicable Purchase Date. 
 3.5 Purchased Shares and Participants’ Accounts. The Company shall record the
ownership of the shares of Common Stock purchased through the Plan with the Plan Agent in book-entry form or, at the election of the Company by issuance of a stock certificate. If stock certificates are issued, they will contain appropriate legends
noting the one-year restrictive period and the fact that the shares are not registered under the Act. The Company may also hold the certificates until the restrictive period expires and at such time deliver the certificates to the Participant or
transfer the registration of the shares to book entry in the name of the Participant. Only whole shares of Common Stock will be sold to Participants under this Plan. The Participant shall receive a written account statement following each purchase
of shares. A Participant may vote all shares of Common Stock held in his or her account. If the number of shares subscribed for under the Plan at any time exceeds the number of remaining shares available for sale under this Plan, the remaining
shares shall be allocated among Participants at the discretion of the Company. 
 The Company shall maintain an account record for each
Participant. Any excess contributions which were not used to purchase Common Stock on a given Purchase Date shall be allocated to and maintained in a Participant’s account until the next Purchase Date. A Participant shall elect in the
subsequent Enrollment/Subscription Agreement whether any such carried-forward amounts are to be used to purchase shares of Common Stock or if such amounts are to be returned to the Participant. If the Participant fails to make such an election, the
carried-forward excess contributions shall be used to purchase shares of Common Stock for the Participant at the next Purchase Date, or at the election of the Company, returned to the Participant as soon as is administratively feasible. 

3.6 Restrictions on Shares Purchased under the Plan. Shares of Common Stock purchased under the Plan shall be restricted for a period of one
year beginning on the Purchase Date and expiring upon the first anniversary of the Purchase Date (the “Restricted Period”). During the Restricted Period, the Participant may not sell, transfer, pledge, assign, or dispose of his or
her shares of Common Stock in any manner. However, a Participant shall be able to vote his or her shares of Common Stock during the Restricted Period and shall receive any dividends declared by the Board of Directors of the Company. The Participant
shall own all of the shares in his or her account and none of the Participant’s shares of Common Stock shall be subject to forfeiture. 
 Following the expiration of the Restricted Period, the Participant’s shares of Common Stock may remain in his or her account until they are sold or transferred by the Participant. The Common Stock 

  

 5 

 
purchased under this Plan is not registered with the SEC and resale of the shares by the Participant may require registration unless an exemption from
registration is available. Based on the terms and conditions of SEC Rule 144, the Company believes that Participants who are not deemed “affiliates” of the Company are able to resell the Common Stock through a broker at the expiration of
the Restricted Period. Rule 144 defines an “affiliate” as a person that directly or indirectly controls or is controlled by, or is under common control with the Company. In the event of a sale, the Plan Agent shall transfer the shares by
book entry, or at the option of the Company a share certificates may be issued to the Participant. 
 3.7 Withdrawal from the Plan. An
enrolled Eligible Agency may withdraw from this Plan at any time by written notice of withdrawal to the Company signed by an authorized representative on behalf of the Eligible Agency. Withdrawal by an Eligible Agency shall result in the termination
of participation on behalf of all Eligible Persons participating through the Eligible Agency. Withdrawal shall be effective as soon as reasonably possible, but will not affect purchases unless the notice is received by the Company at least 10 days
prior to the Purchase Date. Promptly after the time of withdrawal or the discontinuance of an Eligible Agency’s eligibility, the amount of any cash credited to the Plan Account of the Eligible Agency’s or its Eligible Persons for the
Purchase Date shall be refunded by the Company without interest. If an Eligible Agency withdraws, such Eligible Agency may not reenroll for 12 months after withdrawal (unless approved by the Company), and then only if it has been redesignated by the
Company as an Eligible Agency. 
  

	 	IV.	SHARES AVAILABLE UNDER THE PLAN 

 The maximum number
of shares of Common Stock reserved for issuance under the Plan shall be One Hundred Thousand (100,000) shares, subject to adjustment as provided herein. The Company may make the shares available from authorized but unissued shares of Common
Stock, including shares purchased by the Company in the open market. 
 In the event of any equity restructuring (within the meaning of
Financial Accounting Standards No. 123, as revised) that causes the per share value of the Common Stock to change, such as a stock dividend, stock split, spin off, rights offering, reverse stock split or recapitalization through a large,
non-recurring cash dividend, the Committee shall cause there to be made an equitable adjustment to the number and kind of shares that may be available for purchase under the Plan. In the event of any other change in capitalization of the Company,
such as a merger, consolidation, combination, exchange of shares, any reorganization (whether or not such reorganization comes within the definition of such term in Section 368 of the Internal Revenue Code) or any partial or complete
liquidation of the Company, the Committee may, in its sole discretion, cause there to be made such equitable adjustment described in the foregoing sentence. In either case, any such adjustment shall be conclusive and binding for all purposes of the
Plan. 
  

	 	V.	DIVIDENDS; DIVIDEND REINVESTMENT 

 The Company pays
dividends only, as and when declared by the Board, to the record holders of shares of Common Stock. As the record holder of shares of Common Stock purchased under the Plan, a Participant shall receive dividends, if any, in cash for all shares
registered in the Participant’s name on the record date. Such payment shall be made on the date that such dividend would be paid to the Company’s stockholders generally. There is no assurance that cash dividends will be paid. 

Any dividend payable in Common Stock or any split shares distributed by the Company on shares purchased under the Plan shall be deposited in the
Participant’s account with the Plan Agent. Any shares received as the result of a stock split shall be subject to the same restrictions on transfer as the underlying shares purchased under the Plan. Any shares received as a stock dividend shall
also be subject to the same restrictions on transfer as the underlying shares purchased under the Plan. 
  

 6 

 If the Company adopts a dividend reinvestment plan, Participants in the Plan will be eligible to
participate in the Company’s dividend reinvestment plan pursuant to the terms and conditions of that plan, provided, however, the 10% discount under this Plan will not apply to the dividend reinvestment plan. The transfer restrictions
applicable to shares purchased under the Plan shall not apply to any shares purchased under a dividend reinvestment plan. 
  

	 	VI.	OTHER STOCKHOLDER RIGHTS; INFORMATION REPORTING; TAX MATTERS 

 If the Company has a rights offering, Participants in the Plan shall be entitled to participate based upon their total share holdings. Rights on shares of Common Stock purchased under the Plan and registered in the
name of a Participant shall be mailed directly to that Participant in the same manner as to stockholders not participating in the Plan. 
 Each Participant in the Plan shall receive the Company’s annual and other periodic or quarterly reports issued to stockholders, notices of stockholder meetings, proxy statements and information for reporting dividends paid and income
resulting from the discount on the purchase of Common Stock under the Plan. Each Participant shall be entitled to vote the shares purchased under the Plan and registered in that Participant’s name on a record date for a meeting of stockholders.

 The following discussion summarizes certain United States federal income tax consequences of the purchase of Common Stock under the Plan.
The summary does not purport to cover other federal tax consequences or state or local tax consequences. Each Participant is urged to consult with their own tax advisor to understand the tax consequences of their participation in the Plan. The
Eligible Agency shall receive Form 1099 reporting of all Earned Base Commissions or Profit-Sharing Commissions in accordance with the prior practices of the Insurance Company notwithstanding the fact that some of those amounts were applied to the
purchase of Common Stock under this Plan. Further, the 10% discount on the purchases of Common Stock under this Plan is taxable to the Participant at the time the stock is purchased and the Participant will be treated as having received ordinary
income in an amount equal to the difference between the purchase price paid and the then Fair Market Value of the Common Stock acquired. After each calendar year, the Company will send to each Participant a Form 1099 reflecting the amount of
ordinary income from the discounts under the Plan for the prior year. The Company may be entitled to a deduction at the same time in a corresponding amount. The Participant’s basis in the Common Stock purchased under the Plan will be equal to
the purchase price plus the amount of ordinary income recognized due to the purchase discount. 
  

	 	VII.	ADMINISTRATION OF THE PLAN 

 The Plan shall be
administered by the Committee or its designee. The Committee shall have the authority, in its sole discretion, subject to and not inconsistent with the express provisions of the Plan, to administer the Plan and to exercise all the powers and
authorities either specifically granted to it under the Plan or necessary or advisable in the administration of the Plan, including, without limitation, the authority to: (a) construe and interpret the Plan; (b) make adjustments in
response to changes in applicable laws, regulations, or accounting principles, or for any other reason; (c) prescribe, amend, waive and rescind rules and regulations relating to the Plan, and appoint agents it deems appropriate for
administration of the Plan; and (d) make any other determinations deemed necessary or advisable for the administration of the Plan. 
  

 7 

 Determinations of the Committee shall be final, conclusive, and binding on all persons, and the Committee
will not be liable for any action or determination made in good faith with respect to the Plan. The Committee may engage the Plan Agent to perform custodial and record-keeping functions. 
  

	 	VIII.	PLAN DURATION; TERMINATION 

 8.1 Plan Duration
Generally. The Plan shall begin effective December 1, 2008, and continue in existence until the earliest date one of the following occurs: (i) all shares of Common Stock that have been allocated to the Plan have been purchased by the
Plan’s Participants; (ii) December 31, 2013; or (iii) the Plan is otherwise terminated by the Company. 
 8.2 Plan
Suspension. The Board of Directors may suspend the Plan’s operation for a period of time not to exceed twelve (12) months from the date operation is suspended. Before twelve (12) months elapse, the Company must terminate the Plan,
resume operation of the Plan, or enact any amendments necessary to resume operation. 
 8.3 Amendment or Termination of the Plan. The
Board of Directors of the Company shall have the right to amend, modify or terminate this Plan at any time without notice provided that no pending purchases are adversely affected thereby. In the event of termination within 10 business days prior to
a Purchase Date, the Company shall return such Contribution Amounts to the Participants. 
  

	 	IX.	OTHER PLAN PROVISIONS 

 9.1 Assignment and
Issuance of Shares. No Eligible Agency, Eligible Person or Participant may assign, transfer, pledge or hypothecate the shares held for them under the Plan or their subscription rights under this Plan to any other person, and any attempted
assignment shall be void. All shares issued under this Plan shall be titled in the name of the Eligible Agency or its designated Eligible Persons; provided, however, that an Eligible Agency may, upon written request to the Company, designate that
such shares be issued to an Eligible Person of the Eligible Agency. 
 9.2 Contractual Rights. Nothing contained in this Plan or any
forms and notices related to it shall: (i) be construed to confer upon an Eligible Agency or a Participant any right to a continued contractual relationship with the Company or the Insurance Company; or (ii) limit, in any respect, the
right of the Company or the Insurance Company to terminate an existing relationship, contractual or otherwise, with an Eligible Agency or Participant under this Plan. 
 9.3 Section 16 Officers, Directors and 5% Owners. An agency which would otherwise be an Eligible Agency may not participate in this Plan if the agency or any of its Principals, Key Employees or Benefit
Plans, whether or not enrolled in the Plan, are subject to Section 16 of the Securities and Exchange Act of 1934 (the “34 Act”) in connection with the Company as an officer, director or five-percent (5%) owner of the Company
as defined under Section 13 of the 34 Act. If an Eligible Agency or any of its Principals, Key Employees or Benefit Plans is a Participant in the Plan and becomes subject to Section 16 of the 34 Act or a five-percent (5%) owner, then
such Eligible Agency and all of its Eligible Persons will be deemed to have immediately and completely withdrawn from the Plan. 
 9.4
Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Plan. 
 9.5 Applicable Law. This Plan shall be construed, administered and governed in all respects under the laws of the State of Michigan. 
  

 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00150-of-00352.parquet"}]]