Document:

<PAGE>

                                                                    Exhibit 4.15

      FORM OF CAPITAL SECURITIES AGREEMENT AS TO EXPENSES AND LIABILITIES

     THIS AGREEMENT AS TO EXPENSES AND LIABILITIES (the "Agreement") dated as of
_____________ between DOMINION RESOURCES, INC., a Virginia corporation
("Dominion Resources"), and DOMINION RESOURCES CAPITAL TRUST IV, a Delaware
business trust (the "Trust").

     WHEREAS, the Trust intends to issue its ___% Common Securities (the "Common
Securities") to, and purchase ___% _____________ Debentures (the "Debentures")
from, Dominion Resources, and to issue and sell its ___% Capital Securities (the
"Capital Securities") with such powers, preferences and special rights and
restrictions as are set forth in the Amended and Restated Trust Agreement of the
Trust dated as of _____________, as the same may be amended from time to time
(the "Trust Agreement");

     WHEREAS, Dominion Resources will directly or indirectly own all of the
Common Securities of the Trust and will issue the Debentures;

     NOW, THEREFORE, in consideration of the purchase by each holder of the
Capital Securities, which purchase Dominion Resources hereby agrees shall
benefit Dominion Resources and which purchase Dominion Resources acknowledges
will be made in reliance upon the execution and delivery of this Agreement,
Dominion Resources and the Trust hereby agree as follows:

                                   ARTICLE I
                        GUARANTEE BY DOMINION RESOURCES

     1.1  Guarantee by Dominion Resources.  Subject to the terms and conditions
hereof, Dominion Resources hereby irrevocably and unconditionally guarantees to
each person or entity to whom the Trust is now or hereafter becomes indebted or
liable (the "Beneficiaries") the full payment, when and as due, of any and all
Obligations (as hereinafter defined) to such Beneficiaries.  As used herein,
"Obligations" means any costs, expenses or liabilities of the Trust, other than
obligations of the Trust to pay to holders of any Capital Securities the amounts
due such holders pursuant to the terms of the Capital Securities.  This
Agreement is intended to be for the benefit of, and to be enforceable by, all
such Beneficiaries, whether or not such Beneficiaries have received notice
hereof.

     1.2  Term of Agreement.  This Agreement shall terminate and be of no
further force and effect upon the later of (a) the date on which full payment
has been made of all
<PAGE>

amounts payable to all holders of all the Capital Securities (whether upon
redemption, liquidation, exchange or otherwise) and (b) the date on which there
are no Beneficiaries remaining; provided, however, that this Agreement shall
continue to be effective or shall be reinstated, as the case may be, if at any
time any holder of Capital Securities or any Beneficiary must restore payment of
any sums paid under the Capital Securities, under any Obligation, under the
Capital Securities Guarantee Agreement dated the date hereof by Dominion
Resources and The Chase Manhattan Bank, as guarantee trustee, or under this
Agreement for any reason whatsoever. This Agreement is continuing, irrevocable,
unconditional and absolute.

     1.3  Waiver of Notice.  Dominion Resources hereby waives notice of
acceptance of this Agreement and of any Obligation to which it applies or may
apply, and Dominion Resources hereby waives presentment, demand for payment,
protest, notice of nonpayment, notice of dishonor, notice of redemption and all
other notices and demands.

     1.4  No Impairment. The obligations, covenants, agreements and duties of
Dominion Resources under this Agreement shall in no way be affected or impaired
by reason of the happening from time to time of any of the following:

          (a) the extension of time for the payment by the Trust of all or any
portion of the Obligations or for the performance of any other obligation under,
arising out of, or in connection with, the Obligations;

          (b) any failure, omission, delay or lack of diligence on the part of
the Beneficiaries to enforce, assert or exercise any right, privilege, power or
remedy conferred on the Beneficiaries with respect to the Obligations or any
action on the part of the Trust granting indulgence or extension of any kind; or

          (c) the voluntary or involuntary liquidation, dissolution, sale of any
collateral, receivership, insolvency, bankruptcy, assignment for the benefit of
creditors, reorganization, arrangement, composition or readjustment of debt of,
or other similar proceedings affecting, the Trust or any of the assets of the
Trust.

There shall be no obligation of the Beneficiaries to give notice to, or obtain
the consent of, Dominion Resources with respect to the happening of any of the
foregoing.

     1.5  Enforcement. A Beneficiary may enforce this Agreement directly against
Dominion Resources, and Dominion Resources waives any right or remedy to require
that any action be brought against the Trust or any other person or entity
before proceeding against Dominion Resources.

     1.6  Subrogation.  Dominion Resources shall be subrogated to all rights (if
any) of the Trust in respect of any amounts paid to the Beneficiaries by
Dominion Resources under this Agreement; provided, however, that Dominion
Resources shall not (except to the extent required by mandatory provisions of
law) be entitled to enforce or exercise any rights which it may acquire by way
of subrogation or any indemnity,

                                      -2-
<PAGE>

reimbursement or other agreement, in all cases as a result of payment under this
Agreement, if, at the time of any such payment, any amounts are due and unpaid
under this Agreement.

                                  ARTICLE II
                                BINDING EFFECT

     2.1  Binding Effect.  All guarantees and agreements contained in this
Agreement shall bind the successors, assigns, receivers, trustees and
representatives of Dominion Resources and shall inure to the benefit of the
Beneficiaries.

     2.2  Amendment.  So long as there remains any Beneficiary or any Capital
Securities outstanding, this Agreement shall not be modified or amended in any
manner adverse to such Beneficiary or to the holders of the Capital Securities.

     2.3  Notices.  Any notice, request or other communication required or
permitted to be given hereunder shall be given in writing by delivering the same
by personal delivery, by facsimile transmission or by first-class mail,
addressed as follows (and if so given, shall be deemed given when so delivered,
upon receipt of confirmation if by facsimile, or three days after mailed if by
first-class mail):

          If to the Trust to:

               Dominion Resources Capital Trust IV
               c/o Dominion Resources, Inc.
               120 Tredegar Street
               Richmond, VA 23219
               Attention:  Treasurer
               Telecopy No.:  (804) 819-2211

          with a copy to:

               Dominion Resources, Inc.
               120 Tredegar Street
               Richmond, VA 23219
               Attention:  Treasurer
               Telecopy No.:  (804) 819-2211

     2.4  Governing Law.  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD
TO CONFLICT OF LAWS PRINCIPLES).

                                      -3-
<PAGE>

     THIS AGREEMENT is executed as of the day and year first above written.

                         DOMINION RESOURCES, INC.

                         By:  ___________________________________
                         Name:
                         Title:

                         DOMINION RESOURCES CAPITAL TRUST IV

                         By:  ___________________________________
                              as Administrative Trustee

                         By:  ___________________________________
                              as Administrative Trustee

                                      -4-<PAGE>

                                                                    Exhibit 4.16

================================================================================

                           DOMINION RESOURCES, INC.

                                      and

                        [UNDERWRITERS' REPRESENTATIVE]

                              __________________

                         FORM OF REMARKETING AGREEMENT

                           Dated as of [Insert Date]

================================================================================
<PAGE>

                               TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                           Page
<S>                                                                        <C>
Section 1.     Definitions..................................................  1
----------     -----------
Section 2.     Appointment and Obligations of the Remarketing Agent.........  2
----------     ----------------------------------------------------
Section 3.     Representations, Warranties and Agreements of the Company....  3
----------     ---------------------------------------------------------
Section 4.     Officers' Certificates.......................................  6
----------     ----------------------
Section 5.     Fees and Expenses............................................  6
----------     -----------------
Section 6.     Further Agreements of the Company............................  7
----------     ---------------------------------
Section 7.     Conditions to the Remarketing Agent's Obligations............  9
----------     -------------------------------------------------
Section 8.     Indemnification.............................................. 15
----------     ---------------
Section 9.     Contribution................................................. 17
----------     ------------
Section 10.    Resignation and Removal of the Remarketing Agent............. 18
----------     ------------------------------------------------
Section 11.    Dealing in the Remarketed Senior Notes....................... 18
----------     --------------------------------------
Section 12.    Remarketing Agent's Performance; Duty of Care................ 19
----------     ---------------------------------------------
Section 13.    Termination.................................................. 19
----------     -----------
Section 14.    Notices...................................................... 19
----------     -------
Section 15.    Persons Entitled to Benefit of Agreement..................... 19
----------     ----------------------------------------
Section 16.    Survival..................................................... 20
----------     --------
Section 17.    Governing Law................................................ 20
----------     -------------
Section 18.    Counterparts................................................. 20
----------     ------------
Section 19.    Headings..................................................... 20
----------     --------
</TABLE>
<PAGE>

                           DOMINION RESOURCES, INC.

                 200_ Series __ __% Senior Notes, due _______

                             REMARKETING AGREEMENT

                                                                   [Insert Date]

[Underwriters' Representative]

Ladies and Gentlemen:

          [Underwriters' Representative] is undertaking to remarket the 200_
Series __ __% Senior Notes, due _______ (the "Senior Notes"), issued by Dominion
Resources, Inc., a Virginia corporation (the "Company"), pursuant to the
Indenture, dated as of June 1, 2000, between the Company and The Chase Manhattan
Bank, as Trustee (the "Indenture Trustee"), as amended and supplemented by the
_____ Supplemental Indenture, dated _______ (as amended and supplemented, the
"Indenture").

          The Remarketing (as defined below) of the Senior Notes is provided for
in the Indenture.

          Section 1.  Definitions.

     (a)  Capitalized terms used and not defined in this Agreement shall have
the meanings set forth in the Purchase Contract Agreement, dated as of [Insert
Date] (the "Purchase Contract Agreement"), between the Company and
______________________, as Purchase Contract Agent (the "Purchase Contract
Agent), or in the Indenture.

     (b)  As used in this Agreement, the following terms have the following
meanings:

          "Principal Amount" means the principal amount of a Senior Note, or
     $__;

          "Remarketed Senior Notes" means the Senior Notes subject to the
     Remarketing, as identified to the Remarketing Agent by the Purchase
     Contract Agent after 3:00 p.m. on the fourth Business Day immediately
     preceding the Purchase Contract Settlement Date;

          "Remarketing Procedures" means the procedures in connection with the
     Remarketing of the Senior Notes described in the Indenture;
<PAGE>

                                                                               2

          "Remarketing" means the remarketing of the Remarketed Senior Notes
     pursuant to the Remarketing Procedures; and

          "subsidiary" has the meaning set forth in Rule 405 under the
     Securities Act.

          Section 2.  Appointment and Obligations of the Remarketing Agent.

     (a)  The Company hereby appoints [Underwriters' Representative] as
exclusive remarketing agent (the "Remarketing Agent"), and [Underwriters'
Representative] hereby accepts appointment as Remarketing Agent, for the purpose
of (1) Remarketing Remarketed Senior Notes on behalf of the holders thereof and
(2) performing such other duties as are assigned to the Remarketing Agent in the
Remarketing Procedures, all in accordance with and pursuant to the Remarketing
Procedures.

     (b)  The Remarketing Agent agrees to (1) use commercially reasonable
efforts to remarket the Remarketed Senior Notes tendered or deemed tendered to
the Remarketing Agent in the Remarketing, (2) provide prompt notice of the Reset
Rate as set forth in this Agreement and (3) carry out such other duties as are
assigned to the Remarketing Agent in the Remarketing Procedures, all in
accordance with the provisions of the Remarketing Procedures.

     (c)  On the third Business Day immediately preceding the Purchase Contract
Settlement Date (the "Remarketing Date"), the Remarketing Agent shall use
commercially reasonable efforts to remarket, at a price equal to ___% of the
aggregate principal amount thereof, the Remarketed Senior Notes tendered or
deemed tendered for purchase.

     (d)  If, as a result of the efforts described in Section 2(b), the
Remarketing Agent determines that it will be able to remarket all Remarketed
Senior Notes tendered or deemed tendered for purchase at a price of ___% of the
aggregate principal amount of such Remarketed Senior Notes prior to 4:00 p.m.
(New York City time) on the Remarketing Date, the Remarketing Agent shall
determine the Reset Rate, which shall be the rate per annum (rounded to the
nearest one-thousandth (0.001) of one percent per annum) that the Remarketing
Agent determines, in its sole judgment, to be the lowest rate per annum that
will enable it to remarket all Remarketed Senior Notes tendered or deemed
tendered for Remarketing at the aforementioned purchase price.

     (e)  Upon receipt of the proceeds from the Remarketing, the Remarketing
Agent shall:

          (1)  remit to the Collateral Agent the portion of the proceeds from
     the Remarketing of the Remarketed Senior Notes subject to the Pledge
     Agreement equal to ___% of the Principal Amount of such Remarketed Senior
     Notes;

          (2)  remit to the Holders of Remarketed Senior Notes not subject to
     the Pledge Agreement the portion of the proceeds from the Remarketing equal
     to ___% of the Principal Amount of such Remarketed Senior Notes, and

          (3)  retain an amount equal to __% of the Principal Amount for the
     performance of its services as Remarketing Agent hereunder.
<PAGE>

                                                                               3

     (f) If none of the holders of Remarketed Senior Notes elects, or is deemed
to have elected, to have Remarketed Senior Notes remarketed in the Remarketing,
the Remarketing Agent shall, in its sole discretion after consultation with the
Company, determine the rate that would have been established had a Remarketing
been held on the Remarketing Date, and such rate shall be the Reset Rate.  By
approximately 4:30 p.m. (New York City time) on the Remarketing Date, the
Remarketing Agent shall advise by telephone (promptly confirmed in writing) the
Depositary, the Indenture Trustee and the Company of such Reset Rate.

     (g) If, by 4:00 p.m. (New York City time) on the Remarketing Date, the
Remarketing Agent is unable to remarket all Remarketed Senior Notes tendered or
deemed tendered for purchase, a failed Remarketing ("Failed Remarketing") shall
be deemed to have occurred, and the Remarketing Agent shall so advise by
telephone (promptly confirmed in writing) the Depositary, the Purchase Contract
Agent, the Indenture Trustee and the Company.  In the event of a Failed
Remarketing, the Reset Rate shall be equal to the Two-Year Benchmark Rate plus
the Applicable Spread and, by approximately 4:30 p.m. (New York City time) on
the Remarketing Date, the Remarketing Agent shall advise by telephone (promptly
confirmed in writing) the Depositary, the Indenture Trustee and the Company of
such Reset Rate.

     (h) Provided that there has not been a Failed Remarketing, by approximately
4:30 p.m. (New York City time), on the Remarketing Date, the Remarketing Agent
shall advise, by telephone (promptly confirmed in writing in the case of clause
(1)):

         (1) the Depositary, the Indenture Trustee and the Company of the Reset
     Rate determined in the Remarketing and the number of Remarketed Senior
     Notes sold in the Remarketing;

         (2) each purchaser (or the Clearing Agency Participant thereof) of
     Remarketed Senior Notes of the Reset Rate and the number of Remarketed
     Senior Notes such purchaser is to purchase; and

         (3) each purchaser to give instructions to its Clearing Agency
     Participant to pay the purchase price on the Purchase Contract Settlement
     Date in immediately available funds against delivery of the Remarketed
     Senior Notes purchased through the facilities of the Depositary.

         Section 3.  Representations, Warranties and Agreements of the Company.

         The Company represents, warrants and agrees (i) on and as of the date
hereof, (ii) on and as of the date the Prospectus Supplement or other
Remarketing Materials (each as defined in Section 3(a) below) are first
distributed in connection with the Remarketing (the "Commencement Date"), (iii)
on and as of the Remarketing Date and (iv) on and as of the Purchase Contract
Settlement Date that:

         (a) The conditions for use of Form S-3, as set forth in the General
     Instructions thereto, have been satisfied.

         (b) A registration statement on Form S-3 (File No. 333-_____) and an
     amendment or amendments thereto with respect to the initial offering of the
     Senior Notes
<PAGE>

                                                                               4

     has (i) been prepared by the Company in conformity with the requirements of
     the Securities Act of 1933, as amended (the "Securities Act"), and the
     rules and regulations (the "Rules and Regulations") of the Securities and
     Exchange Commission (the "Commission") thereunder, (ii) been filed with the
     Commission under the Securities Act and (iii) become effective under the
     Securities Act; a registration statement on Form S-3, if required to be
     filed in connection with the Remarketing, also may be prepared by the
     Company in conformity with the requirements of the Securities Act and the
     Rules and Regulations and filed with the Commission under the Securities
     Act; and the Indenture has been qualified under the Trust Indenture Act of
     1939, as amended, (the "Trust Indenture Act"). Copies of such registration
     statement or registration statements that have become effective, and the
     amendment or amendments to such registration statements, have been
     delivered by the Company to the Remarketing Agent, in the case of documents
     not electronically available through the Commission's EDGAR filing system
     and, in the case of documents that are so available, to the extent
     requested by the Remarketing Agent.

          As used in this Agreement, "Effective Time" means the date and time as
     of which the last of such registration statements that have become
     effective or may be filed, or the most recent post-effective amendment
     thereto, if any, was declared effective by the Commission; "Effective Date"
     means the date of the Effective Time of such last registration statement;
     "Preliminary Prospectus" means each prospectus relating to the Remarketed
     Senior Notes included in such last registration statement, or amendment
     thereto, before it became effective under the Securities Act and any
     prospectus relating to the Remarketed Senior Notes filed by the Company
     pursuant to Rule 424(a) of the Rules and Regulations; "Registration
     Statement" means such last registration statement, as amended at its
     Effective Time, including documents incorporated by reference therein at
     such time and, if applicable, all information contained in the final
     prospectus filed with the Commission pursuant to Rule 424(b) of the Rules
     and Regulations, including any information deemed to be part of such
     Registration Statement as of the Effective Time pursuant to paragraph (b)
     of Rule 430A of the Rules and Regulations; and "Prospectus" means each
     final prospectus relating to the Remarketed Senior Notes, as first filed
     pursuant to Rule 424(b) of the Rules and Regulations.

          Reference made herein to any Preliminary Prospectus, the Prospectus or
     any other information furnished by the Company to the Remarketing Agent for
     distribution to investors in connection with the Remarketing (the
     "Remarketing Materials") shall be deemed to refer to and include any
     documents incorporated by reference therein pursuant to Item 12 of Form S-3
     under the Securities Act as of the date of such Preliminary Prospectus or
     the Prospectus, as the case may be, or, in the case of Remarketing
     Materials, referred to as incorporated by reference therein, and any
     reference to any amendment or supplement to any Preliminary Prospectus, the
     Prospectus or the Remarketing Materials shall be deemed to refer to and
     include any document filed under the Securities Exchange Act of 1934, as
     amended (the "Exchange Act"), after the date of such Preliminary Prospectus
     or the Prospectus incorporated by reference therein pursuant to Item 12 of
     Form S-3 or, if so incorporated, the Remarketing Materials, as the case may
     be; and any reference to any amendment to the Registration Statement shall
     be deemed to include any annual report of the Company filed with the
     Commission pursuant to Section
<PAGE>

                                                                               5

     13(a) or 15(d) of the Exchange Act after the Effective Time that is
     incorporated by reference in the Registration Statement.

        (c) The Commission has not issued an order preventing or suspending the
     use of the Registration Statement, any Preliminary Prospectus, the
     Prospectus or the Remarketing Materials.

        (d) The Registration Statement conforms (and the Prospectus and any
     further amendments or supplements to the Registration Statement or the
     Prospectus, when they become effective or are filed with the Commission, as
     the case may be, will conform) in all respects to the requirements of the
     Securities Act and the Rules and Regulations, and the Registration
     Statement, the Prospectus and the Remarketing Materials do not and will
     not, as of the Effective Date (as to the Registration Statement and any
     amendment thereto), as of the applicable filing date (as to the Prospectus
     and any amendment or supplement thereto) and as of the Commencement Date,
     Remarketing Date and Purchase Contract Settlement Date (as to the
     Registration Statement, the Prospectus and any Remarketing Materials)
     contain any untrue statement of a material fact or omit to state a material
     fact required to be stated therein or necessary to make the statements
     therein not misleading; provided that no representation and warranty is
     made as to the statement of eligibility and qualification on Form T-1 of
     the Indenture Trustee under the Trust Indenture Act, or as to information
     contained in or omitted from the Registration Statement, the Prospectus or
     the Remarketing Materials in reliance upon and in conformity with written
     information furnished to the Company by the Remarketing Agent specifically
     for inclusion therein; the Indenture conforms in all material respects to
     the requirements of the Trust Indenture Act and the applicable rules and
     regulations thereunder.

        (e) Deloitte & Touche LLP, who certified certain of the Company's
     financial statements incorporated by reference in the Registration
     Statement and the Prospectus, [and, as of the date hereof,
     PricewaterhouseCoopers LLC, who certified the financial statements of
     Consolidated Natural Gas Company incorporated by reference in the
     Registration Statement and the Prospectus,] are independent public
     accountants as required by the Securities Act and the Rules and
     Regulations.

        (f) Except as reflected in, or contemplated by, the Registration
     Statement, the Prospectus or the Remarketing Materials, since the
     respective most recent dates as of which information is given in the
     Registration Statement, the Prospectus or any Remarketing Materials, there
     has not been any material adverse change or event which would result in a
     material adverse effect on the condition of the Company and its
     subsidiaries taken as a whole, financial or otherwise (a "Material Adverse
     Effect").  The Company and its subsidiaries taken as a whole has no
     material contingent financial obligation which is not disclosed in the
     Registration Statement, the Prospectus or the Remarketing Materials.

        (g) All of the issued and outstanding capital stock or membership
     interests of each significant subsidiary of the Company (as such term is
     defined in Rule 1-02 of Regulation S-X promulgated under the Securities
     Act) (each, a "Significant Subsidiary") has been
<PAGE>

                                                                               6

     duly authorized and is validly issued, fully paid and nonassessable and,
     with the exception of the outstanding preferred stock of Virginia Electric
     and Power Company which is owned by third parties, is owned by the Company,
     directly or through subsidiaries, free and clear of any security interest,
     mortgage, pledge, lien, claim, encumbrance or equitable right.

        (h) The execution, delivery and performance of this Agreement, the
     Indenture and the Senior Notes and any other agreement or instrument
     entered into or issued or to be entered into or issued by the Company in
     connection with the transactions contemplated hereby or thereby and the
     consummation of the transactions contemplated herein or therein
     (collectively, the "Transactions") and compliance by the Company with its
     obligations hereunder and thereunder does not and will not, whether with or
     without the giving of notice or lapse of time or both, conflict with or
     constitute a breach of, or default under or result in the creation or
     imposition of any lien, charge or encumbrance upon any property or assets
     of the Company or any subsidiary pursuant to any contract, indenture,
     mortgage, deed of trust, loan or credit agreement, note, lease or any other
     agreement or instrument, to which the Company or any subsidiary is a party
     or by which it or any of them may be bound, or to which any of the property
     or assets of the Company or any subsidiary is subject (except for such
     conflicts, breaches or defaults or liens, charges or encumbrances that
     would not have a Material Adverse Effect), nor will such action result in
     any violation of the provisions of the charter or bylaws of the Company or
     any subsidiary, or any applicable law, statute, rule, regulation, judgment,
     order, writ or decree of any government, government instrumentality or
     court, domestic or foreign, having jurisdiction over the Company or any
     subsidiary or any of their respective properties, assets or operations, and
     the Company has full power and authority to perform under this Agreement.

        (i) The Company is not an "investment company" or an entity "controlled"
     by an "investment company" as such terms are defined in the Investment
     Company Act of 1940, as amended.

        Section 4.  Officers' Certificates.

        Any certificate signed by any officer of the Company or any of its
subsidiaries and delivered to the Remarketing Agent or to counsel for the
Remarketing Agent in connection with the Remarketing shall be deemed a
representation and warranty by the Company to the Remarketing Agent as to the
matters covered thereby on the date of such certificate.

        Section 5.  Fees and Expenses.

  (a)     For the performance of its services as Remarketing Agent hereunder,
the Remarketing Agent shall retain from the proceeds of the Remarketing an
amount equal to __ basis points (__%) of the Principal Amount of each Remarketed
Senior Note that is remarketed by the Remarketing Agent.
<PAGE>

                                                                               7

  (b)       The Company agrees to pay:

          (1) the costs incident to the preparation and printing of the
     Registration Statement, Prospectus and any Remarketing Materials and any
     amendments or supplements thereto, including all related registration and
     filing fees;

          (2) the costs of distributing the Registration Statement, Prospectus
     and any Remarketing Materials and any amendments or supplements thereto;

          (3) The fees and expenses of qualifying the Remarketed Senior Notes
     under the securities laws of the several jurisdictions as provided in
     Section 6(f) and of preparing, printing and distributing a Blue Sky
     Memorandum (including related fees and expenses of counsel to the
     Remarketing Agent);

          (4) all other costs and expenses incident to the performance of the
     obligations of the Company hereunder, including the fees and expenses of
     the Company's counsel; and

          (5) the reasonable fees and expenses of outside counsel to the
     Remarketing Agent in connection with their duties hereunder.

          Section 6.  Further Agreements of the Company.

          The Company covenants and agrees as follows:

          (a) (1)  To prepare any registration statement or prospectus, if
     required, in connection with the Remarketing, in a form approved by the
     Remarketing Agent and to file any such prospectus pursuant to the
     Securities Act within the period required by the Rules and Regulations;

              (2)  to advise the Remarketing Agent, promptly after it receives
     notice thereof, of the time when any amendment to the Registration
     Statement has been filed or becomes effective or any supplement to the
     Prospectus or any amended Prospectus has been filed, in each such case
     excluding documents filed under the Exchange Act incorporated by reference,
     and to furnish the Remarketing Agent with copies of such notice;

              (3)  to file promptly all reports and any definitive proxy or
     information statements required to be filed by the Company with the
     Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange
     Act subsequent to the date of the Prospectus and for so long as the
     delivery of a prospectus is required in connection with the offering or
     sale of the Remarketed Senior Notes;

              (4)  to advise the Remarketing Agent, promptly after it receives
     notice thereof, of the issuance by the Commission of any stop order or of
     any order preventing or suspending the use of the Prospectus, of the
     suspension of the qualification of any of the Remarketed Senior Notes for
     offering or sale in any jurisdiction, of the initiation or threatening of
     any proceeding for any such purpose, or of any request by the Commission
<PAGE>

                                                                               8

     for the amending or supplementing of the Registration Statement or the
     Prospectus or for additional information; and, in the event of the issuance
     of any stop order or of any order preventing or suspending the use of any
     Prospectus or suspending any such qualification, to use promptly its best
     efforts to obtain its withdrawal.

        (b) To deliver promptly to the Remarketing Agent in New York City such
     number of the following documents as the Remarketing Agent shall request:
     (i) conformed copies of the Registration Statement as originally filed with
     the Commission and each amendment thereto (in each case excluding exhibits
     other than this Agreement and the Indenture), (ii) the Prospectus and any
     amended or supplemented Prospectus, (iii) any document incorporated by
     reference in the Prospectus (excluding exhibits thereto) and (iv) any
     Remarketing Materials; and, if the delivery of a prospectus is required at
     any time in connection with the Remarketing and if at such time any event
     shall have occurred as a result of which the Prospectus as then amended or
     supplemented would include any untrue statement of a material fact or omit
     to state any material fact necessary in order to make the statements
     therein, in the light of the circumstances under which they were made when
     such Prospectus is delivered, not misleading, or if for any other reason in
     the opinion of counsel to the Company or the Remarketing Agent it shall be
     necessary during such same period to amend or supplement the Registration
     Statement or Prospectus or to file under the Exchange Act any document
     incorporated by reference in the Prospectus in order to comply with the
     Securities Act or the Exchange Act, to notify the Remarketing Agent and to
     file such document and to prepare and furnish without charge to the
     Remarketing Agent and to any dealer in Senior Notes as many copies as the
     Remarketing Agent may from time to time request of an amended or
     supplemented Prospectus which will correct such statement or omission or
     effect such compliance.

        (c) To file promptly with the Commission any amendment to the
     Registration Statement or the Prospectus or any supplement to the
     Prospectus that may, in the judgment of the Company or the Remarketing
     Agent, be required by the Securities Act or requested by the Commission.

        (d) Prior to filing with the Commission (i) any amendment to the
     Registration Statement or supplement to the Prospectus (excluding documents
     filed under the Exchange Act incorporated by reference) or (ii) any
     Prospectus pursuant to Rule 424 of the Rules and Regulations, to furnish a
     copy thereof to the Remarketing Agent and counsel to the Remarketing Agent;
     and to afford them a reasonable opportunity to comment on any such
     amendment or supplement.

        (e) As soon as practicable after the Effective Date of the Registration
     Statement to make "generally available to the Company's security holders"
     and to deliver to the Remarketing Agent an "earnings statement" of the
     Company and its subsidiaries (which need not be audited) in reasonable
     detail, covering a period of at least 12 months beginning within three
     months after the Effective Date of the Registration Statement, which
     earnings statement shall satisfy the requirements of Section 11(a) of the
     Securities Act.  The terms "generally available to its security holders"
     and "earnings statement" shall have the meanings set forth in Rule 158 of
     the Rules and Regulations.
<PAGE>

                                                                               9

          (f) Promptly from time to time to take such action as the Remarketing
     Agent may reasonably request to qualify any of the Remarketed Senior Notes
     for offer and sale under the securities or "blue sky" laws of such
     jurisdictions as the Remarketing Agent may request and to comply with such
     laws so as to permit the continuance of sales and dealings therein in such
     jurisdictions for as long as may be necessary to complete the distribution
     of the Senior Notes; provided that in connection therewith, the Company
     shall not be required to qualify as a foreign corporation or to file a
     general consent to service of process in any jurisdiction in which it is
     not so qualified or to submit to any requirements which it deems unduly
     burdensome.

          Section 7.  Conditions to the Remarketing Agent's Obligations.

          The obligations of the Remarketing Agent hereunder are subject to (i)
the accuracy, on and as of the date when made, of the representations and
warranties of the Company contained herein or in any Certificates of any officer
of the Company or any subsidiary of the Company delivered pursuant hereto, (ii)
the performance by the Company of its obligations hereunder and (iii) each of
the following additional terms and conditions:

          (a) The Prospectus shall have been filed with the Commission pursuant
     to Section 6(a) hereof; no stop order suspending the effectiveness of the
     Registration Statement or any part thereof or suspending the qualification
     of the Indenture, shall have been issued and no proceeding for that purpose
     shall have been initiated or threatened by the Commission; and any request
     of the Commission for inclusion of additional information in the
     Registration Statement or the Prospectus or otherwise shall have been
     complied with.

          (b) The Remarketing Agent shall not have discovered and disclosed to
     the Company on or prior to the Remarketing Date that the Registration
     Statement, the Prospectus or the Remarketing Materials or any amendment or
     supplement thereto contains any untrue statement of a fact which, in the
     opinion of counsel to the Remarketing Agent, is material or omits to state
     any fact which, in the opinion of such counsel, is material and is required
     to be stated therein or is necessary to make the statements therein not
     misleading and the Company shall not have filed an amendment or supplement
     to the Registration Statement or otherwise acted to correct the matter so
     disclosed.

          (c) Counsel to the Company shall have furnished to the Remarketing
     Agent its written opinion, addressed to the Remarketing Agent and dated the
     Remarketing Date, in form and substance satisfactory to the Remarketing
     Agent, to the effect that:

               (i) No filing with, or authorization, approval, consent, license,
          order, registration, qualification or decree of, any court or
          governmental authority or agency, domestic or foreign (other than
          those required under the Public Utility Holding Company Act of 1935,
          the Securities Act and the Rules and Regulations, which have been
          obtained, or as may be required under the securities or blue sky laws
          of the various states) is necessary or required in connection with the
          due authorization, execution, delivery or performance of the
          Indenture, the Senior
<PAGE>

                                                                              10

          Notes and this Agreement by the Company or for the Remarketing of the
          Senior Notes. An appropriate order of the Commission with respect to
          the sale of the Corporate PIES, of which the Senior Notes are a part,
          under the Public Utility Holding Company Act of 1935, as amended, has
          been issued, and such order remains in effect at this date.

               (ii)  The Indenture has been duly authorized, executed and
          delivered by, has been duly qualified under the Trust Indenture Act
          and constitutes a valid and binding obligation of, the Company,
          enforceable against the Company in accordance with its terms, subject
          to the effects of bankruptcy, insolvency, fraudulent conveyance,
          reorganization, moratorium and other similar laws relating to or
          affecting creditors' rights generally, general equitable principles
          (whether considered in a proceeding in equity or at law) and an
          implied covenant of good faith and fair dealing.

               (iii) The Senior Notes have been duly authorized, executed,
          issued and delivered by the Company and constitute valid and binding
          obligations of the Company entitled to the benefits of the Indenture,
          enforceable in accordance with their terms, subject to the effects of
          bankruptcy, insolvency, fraudulent conveyance, reorganization,
          moratorium and other similar laws relating to or affecting creditors'
          rights generally, general equitable principles (whether considered in
          a proceeding in equity or at law) and an implied covenant of good
          faith and fair dealing.

               (iv)  The Remarketed Senior Notes and the Remarketing Agreement,
          when the Remarketed Senior Notes are remarketed pursuant to this
          Agreement, will conform to the descriptions thereof contained in the
          Prospectus and in any Remarketing Materials, and the Indenture is in
          substantially the form filed as an exhibit to the Registration
          Statement.

               (v)   The Registration Statement was declared effective under the
          Securities Act, and the Indenture was qualified under the Trust
          Indenture Act, as of the date and time specified in such opinion, the
          Prospectus was filed with the Commission pursuant to the subparagraph
          of Rule 424(b) of the Rules and Regulations specified in such opinion
          on the date specified therein and, to the knowledge of such counsel,
          no stop order suspending the effectiveness of the Registration
          Statement has been issued and no proceeding for that purpose is
          pending or threatened by the Commission.

               (vi)  The Registration Statement and the Prospectus appear on
          their face to be appropriately responsive in all material respects to
          the requirements of the Securities Act and the Rules and Regulations
          (except that such counsel may express no comment or belief with
          respect to the financial statements and schedules and other financial
          or statistical information contained in the Registration Statement or
          Prospectus).
<PAGE>

                                                                              11

               (vii)  The statements contained in the Prospectus under the
          captions "Description of Debt Securities," "Additional Terms of Senior
          Debt Securities," and "Description of the Senior Notes," insofar as
          they purport to constitute summaries of certain terms of documents
          referred to therein, constitutes accurate summaries of the terms of
          such documents in all material respects.

               (viii) Based upon current law and the assumptions stated or
          referred to therein, the statements relating to the Remarketed Senior
          Notes set forth in the Prospectus or in the Remarketing Materials
          under the caption "United States Federal Income Tax Consequences,"
          insofar as they purport to constitute summaries of matters of United
          States federal tax laws and regulations or legal conclusions with
          respect thereto, constitute accurate summaries of the matters
          described therein in all material respects.

     In rendering such opinion, such counsel may state that its opinion is
     limited to matters governed by the Federal laws of the United States of
     America and the laws of the Commonwealth of Virginia and the State of New
     York.  Such counsel shall also advise the Remarketing Agent that although
     such counsel is not passing upon and assumes no responsibility or liability
     for the accuracy, completeness or fairness of the statements contained in
     the documents incorporated by reference in the Prospectus or any further
     amendment or supplement thereto made by the Company prior to such
     Remarketing Date, they have no reason to believe that any of such documents
     (other than the financial statements and related schedules therein, as to
     which such counsel need express no opinion), when such documents became
     effective or were filed with the Commission, as the case may be, contained,
     in the case of a registration statement which became effective under the
     Securities Act, an untrue statement of a material fact or omitted to state
     a material fact required to be stated therein necessary to make the
     statements therein not misleading, or, in the case of other documents which
     were filed under the Securities Act or the Exchange Act with the
     Commission, an untrue statement of a material fact or omitted to state a
     material fact necessary in order to make the statements therein, in light
     of the circumstances under which they were made when such documents were so
     filed, not misleading.  Such counsel shall also advise the Remarketing
     Agent that although such counsel is not passing upon and, except as set
     forth in clauses (vii) and (viii) above, assumes no responsibility or
     liability for the accuracy, completeness or fairness of the statements
     contained in the Registration Statement, the Prospectus and the Remarketing
     Materials and any further amendments and supplements thereto made by the
     Company prior to such date, such counsel has no reason to believe that, as
     of its effective date, the Registration Statement or any further amendment
     thereto made by the Company prior to such date (other than the financial
     statements and related schedules therein, as to which such counsel need
     express no opinion) contained an untrue statement of a material fact or
     omitted to state a material fact required to be stated therein or necessary
     to make the statements therein not misleading or that, as of its date, the
     Prospectus and the Remarketing Materials or any further amendment or
     supplement thereto made by the Company prior to such Remarketing Date
     (other than the financial statements and related schedules therein, as to
     which such counsel need express no opinion) contained an untrue statement
     of a material fact or omitted to state a material fact necessary to make
     the statements therein, in light of the circumstances under which they were
     made, not
<PAGE>

                                                                              12

     misleading or that, as of the Commencement Date, the Remarketing Date and
     the Purchase Contract Settlement Date, either the Registration Statement,
     the Prospectus or the Remarketing Materials or any further amendment or
     supplement thereto made by the Company prior to such Remarketing Date
     (other than the financial statements and related schedules therein, as to
     which such counsel need express no opinion) contains an untrue statement of
     a material fact or omits to state a material fact necessary to make the
     statements therein, in light of the circumstances under which they were
     made, not misleading. Such counsel may state that its opinion is given on
     the basis that any statement contained in a document incorporated by
     reference in the Prospectus or any further amendment or supplement thereto
     shall be deemed not to be contained in the Registration Statement or
     Prospectus if the statement has been modified or superseded by any
     statement in a subsequently filed document incorporated by reference in the
     Prospectus or any further amendment or supplement thereto or in the
     Registration Statement or Prospectus.

          (d)  The General Counsel of the Company shall have furnished to the
     Remarketing Agent a written opinion, addressed to the Remarketing Agent and
     dated the Remarketing Date, in form and substance satisfactory to the
     Remarketing Agent, to the effect that:

               (i)   The Company has been duly incorporated and is validly
          existing as a corporation in good standing under the laws of the
          Commonwealth of Virginia and has the corporate power and authority to
          own, lease and operate its properties and to conduct its business as
          described in Prospectus and in any Remarketing Materials and to enter
          into and perform its obligations under this Agreement and the
          Indenture.  The Company is duly qualified as a foreign corporation to
          transact business and is in good standing in each other jurisdiction
          in which such qualification is required, whether by reason of the
          ownership or leasing of property or the conduct of business, except
          where the failure to so qualify or be in good standing would not
          result in a Material Adverse Effect.

               (ii)  Each Significant Subsidiary of the Company has been duly
          organized and is validly existing in good standing under the laws of
          the jurisdiction of its organization, has the power and authority to
          own, lease and operate its properties and to conduct its business as
          described in the Prospectus and in any Remarketing Materials and is
          duly qualified to transact business and is in good standing in each
          jurisdiction in which such qualification is required, whether by
          reason of the ownership or leasing of property or the conduct of
          business, except where the failure to so qualify or be in good
          standing would not result in a Material Adverse Effect.

               (iii) This Agreement has been duly authorized, executed and
          delivered by the Company.

               (iv)  There are no actions, suits or proceedings pending or, to
          the best of such counsel's knowledge, threatened, to which the Company
          or any of its subsidiaries is a party or to which any of the
          properties of the Company or any of
<PAGE>

                                                                              13

          its subsidiaries is subject, other than (A) as described in the
          Prospectus or in any Remarketing Materials and (B) actions, suits or
          proceedings which such counsel believes are not likely to have a
          material adverse effect on the power or ability of the Company to
          perform its obligations under this Agreement or to consummate the
          Transactions.

          (e) On the Remarketing Date, the Company shall have furnished to the
     Remarketing Agent a letter addressed to the Remarketing Agent and dated
     such date, in form and substance satisfactory to the Remarketing Agent, of
     Deloitte & Touche LLP or such other firm of nationally recognized
     independent public accountants satisfactory to the Remarketing Agent,
     containing statements and information of the type ordinarily included in
     accountants' "comfort letters" with respect to certain financial
     information contained in the Prospectus and in the Remarketing Materials.

          (f) The Company shall have furnished to the Remarketing Agent a
     certificate, dated the Remarketing Date, of its President or any Vice
     President, stating that:

               (i)   the representations, warranties and agreements of the
          Company contained in this Agreement are true and correct as of the
          Remarketing Date, and the Company performed all obligations and
          satisfied all conditions required of it under this Agreement; and

               (ii)  no stop order suspending the effectiveness of the
          Registration Statement is in effect and no proceedings for such
          purpose are pending before, or to such officer's knowledge, threatened
          by the Commission on the date hereof.

          (g) Subsequent to fifteen Business Days prior to the Remarketing Date
     and prior to the Remarketing on the Remarketing Date, except as reflected
     in, or contemplated by, the Registration Statement, the Prospectus and the
     Remarketing Materials, there shall not have occurred:

               (i)   any change in the common stock or long-term debt of the
          Company (other than a decrease in the aggregate principal amount of
          such debt outstanding);

               (ii)  any material adverse change in the general affairs,
          financial condition or earnings of the Company and its subsidiaries
          taken as a whole; or

               (iii) any material transaction entered into by the Company or a
          Significant Subsidiary other than a transaction in the ordinary course
          of business,

     the effect of which, in any such case described in clause (i), (ii) or
     (iii), is, in the reasonable judgment of the Remarketing Agent, so material
     and so adverse as to make it impracticable to proceed with the Remarketing
     on the terms and in the manner contemplated in the Prospectus, the
     Remarketing Materials and this Agreement.
<PAGE>

                                                                              14

        (h) Subsequent to fifteen Business Days prior to the Remarketing Date
     and prior to the Remarketing on the Remarketing Date, there shall not have
     occurred any of the following:

               (i)   a downgrading in the rating accorded the Company's senior
          unsecured notes, or securities that are pari passu to the Company's
          senior unsecured notes, by any "nationally recognized statistical
          rating organization" (as that term is defined by the Commission for
          purposes of Rule 436(g)(2) under the Securities Act) or any public
          announcement by any such organization that it has under surveillance
          or review, with possible negative implications, its rating of such
          securities;

               (ii)  any general suspension of trading in securities on the New
          York Stock Exchange or any limitation on prices for such trading or
          any restriction on the distribution of securities established by the
          New York Stock Exchange or by the Commission or by any federal or
          state agency or by the decision of any court;

               (iii) a suspension of trading of any securities of the Company on
          the New York Stock Exchange;

               (iv)  a banking moratorium shall have been declared by federal or
          New York state authorities; or

               (v)   any outbreak or escalation of major hostilities in which
          the United States is involved, any declaration of war by the United
          States Congress or any other substantial national or international
          calamity or crisis resulting in the declaration of a national
          emergency, or any material adverse change in the financial markets,

     the effect of which outbreak, escalation, declaration, calamity, crisis or
     material adverse change, in the reasonable judgment of the Remarketing
     Agent, makes it impracticable to proceed with the Remarketing on the terms
     and in the manner contemplated in the Prospectus, the Remarketing Materials
     and this Agreement.

        (i) Without the prior written consent of the Remarketing Agent, the
     Indenture shall not have been amended in any manner, or otherwise contain
     any provision not contained therein as of the date hereof that, in the
     reasonable judgment of the Remarketing Agent, materially changes the nature
     of the Remarketed Senior Notes or the Remarketing Procedures.  The
     foregoing shall not require notice to, or the obtaining of consent from,
     the Remarketing Agent with respect to any amendment or change in the
     Indenture that does not materially change the nature of the Remarketed
     Senior Notes or the Remarketing Procedures.

        (j) All corporate proceedings and other legal matters incident to the
     authorization, form and validity of this Agreement, the Indenture, the
     Remarketed Senior Notes, the Prospectus, the Registration Statement, the
     Remarketing Materials and all other legal matters relating to this
     Agreement and the transactions contemplated hereby
<PAGE>

                                                                              15

     shall be reasonably satisfactory in all material respects to counsel to the
     Remarketing Agent, and the Company shall have furnished to such counsel all
     documents and information that they may reasonably request to enable them
     to pass upon such matters.

          All opinions, letters, evidence and certificates mentioned above or
elsewhere in this Agreement shall be deemed to be in compliance with the
provisions hereof only if they are in form and substance reasonably satisfactory
to counsel for the Remarketing Agent.

          Section 8.  Indemnification.

     (a)  The Company agrees to indemnify and hold harmless the Remarketing
Agent and each person who controls the Remarketing Agent within the meaning of
Section 15 of the Securities Act or Section 20(a) of the Exchange Act, from and
against any and all losses, claims, damages or liabilities, joint or several, or
any actions in respect thereof, to which the Remarketing Agent or any such
controlling person may become subject, under the Securities Act, the Exchange
Act or any other statute or common law and to reimburse the Remarketing Agent
and any such controlling person for any legal or other expenses (including, to
the extent hereinafter provided, reasonable outside counsel fees) incurred by
the Remarketing Agent or any such controlling person in connection with
investigation or defending any such losses, claims, damages or liabilities or in
connection with defending any actions, insofar as such losses, claims, damages,
liabilities, expenses or actions arise out of, or are based upon (i) any untrue
statement or alleged untrue statement of a material fact contained in (A) the
Registration Statement or the Prospectus or in any amendment or supplement
thereto (if any amendments or supplements thereto shall have been furnished) (B)
any Preliminary Prospectus (if and when used prior to the Effective Date) or (C)
any Remarketing Materials, or (ii) the omission or alleged omission to state
therein any material fact required to be stated therein or necessary to make the
statements therein not misleading; provided, however, that the foregoing
agreement, insofar as it relates to any Preliminary Prospectus, shall not inure
to the benefit of the Remarketing Agent (or to the benefit of any such
controlling person) on account of any losses, claims, damages, liabilities or
actions arising out of the sale of the Remarketed Senior Notes to any person by
the Remarketing Agent if it shall be established that a copy of the Prospectus,
excluding any documents incorporated by reference (as supplemented or amended,
if the Company shall have made any supplements or amendments which have been
furnished to the Remarketing Agent), shall not have been sent or given by or on
behalf of the Remarketing Agent to such person at or prior to the written
confirmation of the sale to such person in any case where such delivery is
required by the Securities Act and the Company satisfied its obligations
pursuant to Section 6(b), if the misstatement or omission leading to such loss,
claim, damage, liability or action was corrected in the Prospectus (excluding
any documents incorporated by reference) as amended or supplemented, and such
correction would have cured the defect giving rise to such loss, claim, damage,
liability or action; and provided further that the indemnity agreement of the
Company contained in this Section 8(a) shall not apply to any such losses,
claims, damages, liabilities, expenses or actions arising out of, or based upon,
any such untrue statement or alleged untrue statement or omission or alleged
omission if such statement or omission was made in reliance upon information
furnished herein or otherwise in writing to the Company by or on behalf of the
Remarketing Agent for use therein.  The indemnity agreement of the Company
contained in this Section 8(a) and the representations and warranties of the
Company contained in or made pursuant to Sections 3 and 4 shall remain operative
and in full force and effect, regardless of any investigation made by or
<PAGE>

                                                                              16

on behalf of the Remarketing Agent or any such controlling person, and shall
survive the Remarketing of the Remarketed Senior Notes.

     (b) The Remarketing Agent agrees to indemnify and hold harmless the
Company, its officers and directors and each person who controls the Company
within the meaning of Section 15 of the Securities Act or Section 20(a) of the
Exchange Act, from and against any and all losses, claims, damages or
liabilities, joint or several, or any actions in respect thereof, to which they
or any of them may become subject, under the Securities Act, the Exchange Act or
any other statute or common law and to reimburse each of them for any legal or
other expenses (including, to the extent hereinafter provided, reasonable
outside counsel fees) incurred by them in connection with investigation or
defending any such losses, claims, damages or liabilities or in connection with
defending any actions, insofar as such losses, claims, damages, liabilities,
expenses or actions arise out of, or are based upon, (i) any untrue statement or
alleged untrue statement of a material fact contained in (A) the Registration
Statement or the Prospectus or in any amendment or supplement thereto (if any
amendments or supplements thereto shall have been furnished) (B) any Preliminary
Prospectus (if and when used prior to the Effective Date) or (C) any Remarketing
Materials, or (ii) the omission or alleged omission to state therein any
material fact required to be stated therein or necessary to make the statements
therein not misleading, if such statement or omission was made in reliance upon
information furnished herein or in writing to the Company by or on behalf of the
Remarketing Agent for use therein. The indemnity agreement of the Remarketing
Agent contained in this Section 8(b) shall remain operative and in full force
and effect, regardless of any investigation made by or on behalf of the Company
or any such controlling person, and shall survive the Remarketing of the
Remarketed Senior Notes.

     (c) Upon the receipt of notice of the commencement of any action against
the Company or any of its officers or directors or any person controlling the
Company or the Remarketing Agent or any person controlling the Remarketing Agent
as aforesaid, in respect of which indemnity may be sought on account of any
indemnity agreement contained herein, it will promptly give written notice of
the commencement thereof to the party or parties against whom indemnity shall be
sought hereunder, but the omission so to notify such indemnifying party or
parties of any such action shall not relieve such indemnifying party or parties
from any liability which it or they may have to the indemnified party otherwise
than on account of such indemnity agreement.  In case such notice of any such
action shall be so given, such indemnifying party shall be entitled to
participate at its own expense in the defense or, if it so elects, to assume (in
conjunction with any other indemnifying parties) the defense of such action, in
which event such defense shall be conducted by counsel chosen by such
indemnifying party (or parties) and satisfactory to the indemnified party or
parties who shall be defendant or defendants in such action, and such defendant
or defendants shall bear the fees and expenses of any additional outside counsel
retained by them; provided that, if the defendants (including impleaded parties)
in any such action include both the indemnified party and the indemnifying party
(or parties) and the indemnified party shall have reasonably concluded that
there may be legal defenses available to it and/or other indemnified parties
which are different from or additional to those available to the indemnifying
party (or parties), the indemnified party shall have the right to select
separate counsel to assert such legal defenses and to participate otherwise in
the defense of such action on behalf of such indemnified party.  The
indemnifying party shall bear the reasonable fees and expenses of outside
counsel retained by the indemnified party if (i) the indemnified party shall
<PAGE>

                                                                              17

have retained such counsel in connection with the assertion of legal defenses in
accordance with the proviso to the preceding sentence (it being understood,
however, that the indemnifying party shall not be liable for the expenses of
more than one separate counsel (in addition to one local counsel), representing
the indemnified parties under Section 8(a) or 8(b), as the case may be, who are
parties to such action), (ii) the indemnifying party shall have elected not to
assume the defense of such action, (iii) the indemnifying party shall not have
employed counsel satisfactory to the indemnified party to represent the
indemnified party within a reasonable time after notice of the commencement of
the action, or (iv) the indemnifying party has authorized the employment of
counsel for the indemnified party at the expense of the indemnifying party.
Notwithstanding the foregoing sentence, an indemnifying party shall not be
liable for any settlement of any proceeding effected without its written consent
(such consent not to be unreasonably withheld), but if settled with such consent
or if there be a final judgment for the plaintiff, the indemnifying party agrees
to indemnify the indemnified party from and against any loss or liability by
reason of such settlement or judgment. No indemnifying party shall, without the
prior written consent of the indemnified party, effect any settlement of any
pending or threatened proceeding in respect of which indemnification may be
sought hereunder (whether or not the indemnified party is an actual or potential
party to such a proceeding), unless such settlement (i) includes an
unconditional release of such indemnified party from all liability on claims
that are the subject matter of such proceeding and (ii) does not include a
statement as to or an admission of fault, culpability or failure to act by or on
behalf of any indemnified party.

          Section 9.  Contribution.

     (a)  If the indemnification provided for in Section 8 hereof is unavailable
to or insufficient to hold harmless an indemnified party in respect of any
losses, claims, damages or liabilities, or actions in respect thereof, referred
to therein, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of such losses, claims, damages or
liabilities, or actions in respect thereof, in such proportion as is appropriate
to reflect the relative fault of the Company on the one hand and the Remarketing
Agent on the other in connection with the statements or omissions which resulted
in such losses, claims, damages or liabilities, or actions in respect thereof,
as well as any other relevant equitable considerations, including relative
benefit.  The relative fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or
omission or alleged omission to state a material fact required to be stated
therein or necessary in order to make the statements therein not misleading
relates to information supplied by the Company on the one hand or the
Remarketing Agent on the other hand and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission.  The Company and the Remarketing Agent agree that it would not be just
and equitable if contribution pursuant to this Section 9 were to be determined
by pro rata allocation or by any other method of allocation which does not take
into account the equitable considerations referred to above in this Section 9.
The amount paid or payable by an indemnified party as a result of the losses,
claims, damages or liabilities, or actions in respect thereof, referred to above
in this Section 9 shall be deemed to include any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating
or defending any such claim or action.  No person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.
<PAGE>

                                                                              18

The remedies provided for in this Section 9 are not exclusive and shall not
limit any rights or remedies which may otherwise be available to any indemnified
party at law or in equity.

          Section 10.  Resignation and Removal of the Remarketing Agent.

          The Remarketing Agent may resign and be discharged from its duties and
obligations hereunder by giving 60 days' prior written notice to the Company,
the Depositary and the Indenture Trustee. The Company may remove the Remarketing
Agent by giving 60 days' prior written notice to the removed Remarketing Agent,
the Depositary and the Indenture Trustee upon any of the following events:

               (i)   the Remarketing Agent becomes involved as a debtor in a
          bankruptcy, insolvency or similar proceeding;

               (ii)  the Remarketing Agent shall not be among the 10
          underwriters with the largest volume underwritten in dollars, on a
          lead managed basis, of U.S. domestic debt securities during the
          twelve-month period ended as of the last calendar quarter preceding
          the Remarketing Date;

               (iii) the Remarketing Agent shall be subject to one or more legal
          restrictions preventing the performance of its obligations hereunder;

               (iv)  the Remarketing Agent shall determine that (A) there has
          been an occurrence of a material adverse change of the kind described
          under Section 7(g)(ii) or (B) using its commercially reasonable
          efforts, the Remarketing Agent would be unable to consummate the
          Remarketing on the terms and in the manner contemplated in the
          Prospectus and the Remarketing Materials; or

               (v)   the Company shall determine in its sole discretion that
          using its commercially reasonable efforts, the Remarketing Agent would
          be unable to consummate the Remarketing on the terms and in the manner
          contemplated in the Prospectus and the Remarketing Materials.

Notwithstanding any other provision in this Section 10, no such resignation nor
any such removal shall become effective until the Company shall have appointed
at least one nationally recognized broker-dealer as successor Remarketing Agent
and such successor Remarketing Agent shall have entered into a remarketing
agreement with the Company, in which it shall have agreed to conduct the
Remarketing in accordance with the Remarketing Procedures.  The provisions of
Sections 5, 8 and 9 shall survive the resignation or removal of any Remarketing
Agent pursuant to this Agreement.

          Section 11.  Dealing in the Remarketed Senior Notes.

          The Remarketing Agent, when acting as a Remarketing Agent or in its
individual or any other capacity, may, to the extent permitted by law, buy,
sell, hold and deal in any of the Remarketed Senior Notes.  The Remarketing
Agent may exercise any vote or join in any action which any beneficial owner of
Remarketed Senior Notes may be entitled to exercise or take pursuant to the
Indenture with like effect as if it did not act in any capacity hereunder.  The
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                                                                              19

Remarketing Agent, in its individual capacity, either as principal or agent, may
also engage in or have an interest in any financial or other transaction with
the Company as freely as if it did not act in any capacity hereunder.

          Section 12.  Remarketing Agent's Performance; Duty of Care.

          The duties and obligations of the Remarketing Agent shall be
determined solely by the express provisions of this Agreement, the Indenture and
the Senior Notes.  No implied covenants or obligations of or against the
Remarketing Agent shall be read into this Agreement, the Indenture or the Senior
Notes.  In the absence of bad faith on the part of the Remarketing Agent, the
Remarketing Agent may conclusively rely upon any document furnished to it, which
purports to conform to the requirements of this Agreement, the Indenture or the
Senior Notes as to the truth of the statements expressed in any of such
documents.  The Remarketing Agent shall be protected in acting upon any document
or communication reasonably believed by it to have been signed, presented or
made by the proper party or parties.  The Remarketing Agent, acting under this
Agreement, shall incur no liability to the Company or to any holder of
Remarketed Senior Notes in its individual capacity or as Remarketing Agent for
any action or failure to act, on its part in connection with a Remarketing or
otherwise, except if such liability is judicially determined to have resulted
from the gross negligence or willful misconduct on its part.

          Section 13.  Termination.

          This Agreement shall terminate as to the Remarketing Agent on the
effective date of the resignation or removal of the Remarketing Agent pursuant
to Section 10. In addition, the obligations of the Remarketing Agent hereunder
may be terminated by it by notice given to the Company prior to 10:00 a.m. (New
York City time) on the Remarketing Date if, prior to that time, any of the
events described in Sections 7(g), (h) and (i) shall have occurred.

          Section 14.  Notices.

          All statements, requests, notices and agreements hereunder shall be in
writing, and:

          (a) if to the Remarketing Agent, shall be delivered or sent by mail,
     telex or facsimile transmission to [Underwriters' Representative Contact
     Information];

          (b) if to the Company shall be delivered or sent by mail, telex or
     facsimile transmission to the address of the Company set forth in the
     Prospectus, Attention: Treasurer (Fax: (804) 819-2211).

Any such statements, requests, notices or agreements shall take effect at the
time of receipt thereof.

          Section 15.  Persons Entitled to Benefit of Agreement.

          This Agreement shall inure to the benefit of and be binding upon the
Remarketing Agent, the Company and their respective successors.  This Agreement
and the terms and provisions hereof are for the sole benefit of only those
persons, except that (x) the
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                                                                              20

representations, warranties, indemnity and contribution agreements and other
agreements of the Company contained in this Agreement shall also be deemed to be
for the benefit of the officers and employees of the Remarketing Agent and the
person or persons, if any, who control the Remarketing Agent within the meaning
of Section 15 of the Securities Act and (y) the indemnity and contribution
agreements of the Remarketing Agent contained in Sections 8(b) and 9 of this
Agreement shall be deemed to be for the benefit of directors, officers and
employees of the Company and any person controlling the Company within the
meaning of Section 15 of the Securities Act. Nothing contained in this Agreement
is intended or shall be construed to give any person, other than the persons
referred to herein, any legal or equitable right, remedy or claim under or in
respect of this Agreement or any provision contained herein.

          Section 16.  Survival.

          The respective indemnities, representations, warranties and agreements
of the Company and the Remarketing Agent contained in this Agreement or made by
or on behalf of them, respectively, pursuant to this Agreement, shall survive
the Remarketing and shall remain in full force and effect, regardless of any
investigation made by or on behalf of any of them or any person controlling any
of them.

          Section 17.  Governing Law.

          This Agreement shall be governed by, and construed in accordance with,
the laws of New York.

          Section 18.  Counterparts.

          This Agreement may be executed in one or more counterparts and, if
executed in more than one counterpart, the executed counterparts shall each be
deemed to be an original but all such counterparts shall together constitute one
and the same instrument.

          Section 19.  Headings.

          The headings herein are inserted for convenience of reference only and
are not intended to be part of, or to affect the meaning or interpretation of,
this Agreement.
<PAGE>

          If the foregoing correctly sets forth the agreement between the
Company and the Remarketing Agent, please indicate your acceptance in the space
provided for that purpose below.

                                    Very truly yours,

                                    DOMINION RESOURCES, INC.

                                    By: ___________________________
                                        Title:

Accepted:

[UNDERWRITERS' REPRESENTATIVE]

By: __________________________
     Authorized Representative

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