Document:

<PAGE>

                                                                    EXHIBIT 4.19

                           CALCULATION AGENT AGREEMENT

          THIS AGREEMENT dated as of ____________ between DOMINION RESOURCES,
INC. (hereinafter called the "Issuer"), having its principal office at 120
Tredegar Street, Richmond, Virginia 23219 and JPMORGAN CHASE BANK (formerly
known as THE CHASE MANHATTAN BANK), a New York banking corporation (hereinafter
sometimes called the "Calculation Agent" which term shall, unless the context
shall otherwise require, include its successors and assigns), having its
principal corporate trust office at 450 West 33rd Street, New York, New York
10001.

Recitals of the Issuer

          The Issuer proposes to issue from time to time its medium-term notes
(the "Notes") under the Indenture dated as of June 1, 2000, as supplemented and
amended from time to time (the "Indenture"), among the Issuer and JPMorgan Chase
Bank, as Trustee. Capitalized terms used in this Agreement and not otherwise
defined herein are used as defined in the Indenture. Certain of the Notes may
bear interest at one of several floating rates determined by reference to an
interest rate formula (the "Floating Rate Notes") and the Issuer desires to
engage the Calculation Agent to perform certain services in connection
therewith.

          NOW IT IS HEREBY AGREED THAT:

          1. The Issuer hereby appoints JPMorgan Chase Bank as Calculation Agent
for the Floating Rate Notes, upon the terms and subject to the conditions herein
mentioned, and JPMorgan Chase Bank hereby accepts such appointment. The
Calculation Agent shall act as an agent of the Issuer for the purpose of
determining the interest rate or rates of the Floating Rate Notes.

          2. The Issuer agrees to deliver to the Calculation Agent, prior to the
issuance of any Floating Rate Notes, copies of the proposed forms of such Notes,
including copies of all terms and conditions relating to the determination of
the interest rate thereunder. The Issuer shall not issue any Floating Rate Note
prior to the receipt of confirmation from the Calculation Agent of its
acceptance of the proposed form of such Note. The Calculation Agent hereby
acknowledges its acceptance of the proposed form of Floating Rate Note
previously delivered to it.

          3. The Issuer shall notify the Calculation Agent of the issuance of
any Floating Rate Notes prior to the issuance thereof and at the time of such
issuance, shall deliver to the Calculation Agent the information required to be
provided by the Issuer for the calculation of the applicable interest rates
thereunder. The Calculation Agent shall calculate the applicable interest rates
for Floating Rate Notes in accordance with the terms of such Notes, the
Indenture and the provisions of this Agreement.

<PAGE>

          4. Promptly following the determination of each change to the interest
rate applicable to any Floating Rate Note, the Calculation Agent will cause to
be forwarded to the Issuer, the Trustee and the principal Paying Agent
information regarding the interest rate then in effect for such Floating Rate
Note.

          5. The Issuer will pay such compensation as shall be agreed upon with
the Calculation Agent and the out-of-pocket expenses, including reasonable
counsel fees, incurred by the Calculation Agent in connection with its duties
hereunder, upon receipt of such invoices as the Issuer shall reasonably require.

          6. Notwithstanding any satisfaction or discharge of the Notes or the
Indenture, the Issuer will indemnify the Calculation Agent against any losses,
liabilities, costs, claims, actions or demands which it may incur or sustain or
which may be made against it in connection with its appointment or the exercise
of its powers and duties hereunder as well as the reasonable costs, including
the reasonable expenses and fees of counsel in defending any claim, action or
demand, except such as may result from the gross negligence, wilful misconduct
or bad faith of the Calculation Agent or any of its employees. Except as
provided in the preceding sentence, the Calculation Agent shall incur no
liability and shall be indemnified and held harmless by the Issuer for, or in
respect of, any actions taken or suffered to be taken in good faith by the
Calculation Agent in reliance upon (i) the written opinion or advice of counsel
or (ii) written instructions from the Issuer.

          7. The Calculation Agent accepts its obligations herein set forth upon
the terms and conditions hereof, including the following, to all of which the
Issuer agrees:

          (i)    in acting under this Agreement and in connection with the
     Notes, the Calculation Agent, acting as agent for the Issuer, does not
     assume any obligation towards, or any relationship of agency or trust for
     or with, any of the Holders of the Notes;

          (ii)   unless herein otherwise specifically provided, any order,
     certificate, notice, request or communication from the Issuer made or given
     under any provisions of this Agreement shall be sufficient if signed by any
     person whom the Calculation Agent reasonably believes to be a duly
     authorized officer or attorney-in-fact of the Issuer;

          (iii)  the Calculation Agent shall be obligated to perform only such
     duties as are set forth specifically herein and any duties necessarily
     incidental thereto;

          (iv)   the Calculation Agent shall be protected and shall incur no
     liability for or in respect of any action taken or omitted to be taken or
     anything suffered by it in reliance upon anything contained in a Floating
     Rate Note, the Indenture or any information supplied to it by the Issuer
     pursuant to this Agreement, including the information to be supplied
     pursuant to paragraph 3 above;

                                      -2-

<PAGE>

          (v)    the Calculation Agent, whether acting for itself or in any
     other capacity, may become the owner or pledgee of Notes with the same
     rights as it would have had if it were not acting hereunder as Calculation
     Agent;

          (vi)   the Calculation Agent shall incur no liability hereunder except
     for loss sustained by reason of its gross negligence, wilful misconduct or
     bad faith; and

          (vii)  in no event shall the Calculation Agent be liable for special,
     indirect or consequential loss or damage of any kind whatsoever (including
     but not limited to lost profits), even if the Calculation Agent has been
     advised of the likelihood of such loss or damage and regardless of the form
     of action.

     8.   (a) The Issuer agrees to notify the Calculation Agent at least 3
Business Days prior to the issuance of any Floating Rate Note with an interest
rate to be determined by any formula that would require the Calculation Agent to
select banks or other financial institutions (the "Reference Banks") for
purposes of quoting rates. Immediately prior to seeking such quotes from such
Reference Banks, the Calculation Agent will notify the Issuer (unless, in
accordance with the Floating Rate Notes, the selection of such Reference Banks
must be made after consultation with the Issuer) and the Trustee of the names
and addresses of such Reference Banks. The Calculation Agent shall not be
responsible to the Issuer or any third party for any failure of the Reference
Banks to fulfill their duties or meet their obligations as Reference Banks or as
a result of the Calculation Agent having acted (except in the event of gross
negligence, wilful misconduct or bad faith) on any quotation or other
information given by any Reference Bank which subsequently may be found to be
incorrect.

          (b) Except as provided below, the Calculation Agent may at any time
resign as Calculation Agent by giving written notice to the Issuer and the
Trustee of such intention on its part, specifying the date on which its desired
resignation shall become effective, provided that such notice shall be given not
less than 60 days prior to the said effective date unless the Issuer and the
Trustee otherwise agree in writing. Except as provided below, the Calculation
Agent may be removed by the filing with it and the Trustee of an instrument in
writing signed by the Issuer specifying such removal and the date when it shall
become effective (such effective date being at least 20 days after said filing).
Any such resignation or removal shall take effect upon:

              (i)  the appointment by the Issuer as hereinafter provided of a
          successor Calculation Agent; and

              (ii) the acceptance of such appointment by such successor
          Calculation Agent;

provided, however, that in the event the Calculation Agent has given not less
than 60 days' prior notice of its desired resignation, and during such 60 days
there has not been acceptance by a successor Calculation Agent of its
appointment as successor Calculation Agent, the Calculation

                                      -3-

<PAGE>

Agent so resigning may petition any court of competent jurisdiction for the
appointment of a successor Calculation Agent. The Issuer covenants that it shall
appoint a successor Calculation Agent as soon as practicable after receipt of
any notice of resignation hereunder. Upon its resignation or removal becoming
effective, the retiring Calculation Agent shall be entitled to the payment of
its compensation and the reimbursement of all expenses (including reasonable
counsel fees) incurred by such retiring Calculation Agent pursuant to paragraph
5 hereof to the date such resignation or removal becomes effective.

          (c) If at any time the Calculation Agent shall resign or be removed,
or shall become incapable of acting or shall be adjudged bankrupt or insolvent,
or liquidated or dissolved, or an order is made or an effective resolution is
passed to wind up the Calculation Agent, or if the Calculation Agent shall file
a voluntary petition in bankruptcy or make an assignment for the benefit of its
creditors, or shall consent to the appointment of a receiver, administrator or
other similar official of all or any substantial part of its property, or shall
admit in writing its inability to pay or meet its debts as they mature, or if a
receiver, administrator or other similar official of the Calculation Agent or of
all or any substantial part of its property shall be appointed, or if any order
of any court shall be entered approving any petition filed by or against the
Calculation Agent under the provisions of any applicable bankruptcy or
insolvency law, or if any public officer shall take charge or control of the
Calculation Agent or its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then a successor Calculation Agent shall be
appointed by the Issuer by an instrument in writing filed with the successor
Calculation Agent and the Trustee. Upon the appointment as aforesaid of a
successor Calculation Agent and acceptance by the latter of such appointment the
former Calculation Agent shall cease to be Calculation Agent hereunder.

          (d) Any successor Calculation Agent appointed hereunder shall execute
and deliver to its predecessor, the Issuer and the Trustee an instrument
accepting such appointment hereunder, and thereupon such successor Calculation
Agent, without any further act, deed or conveyance, shall become vested with all
the authority, rights, powers, immunities, duties and obligations of such
predecessor with like effect as if originally named as the Calculation Agent
hereunder, and such predecessor, upon payment of its compensation, charges and
disbursements then unpaid, shall thereupon become obliged to transfer and
deliver, and such successor Calculation Agent shall be entitled to receive,
copies of any relevant records maintained by such predecessor Calculation Agent.

          (e) Any corporation into which the Calculation Agent may be merged or
converted or any corporation with which the Calculation Agent may be
consolidated or any corporation resulting from any merger, conversion or
consolidation to which the Calculation Agent shall be a party shall, to the
extent permitted by applicable law, be the successor Calculation Agent under
this Agreement without the execution or filing of any paper or any further act
on the part of any of the parties hereto. Notice of any such merger, conversion
or consolidation shall forthwith be given to the Issuer and the Trustee.

                                      -4-

<PAGE>

          (f) The provisions of paragraphs 5 and 6 hereof shall survive any
resignation or removal hereunder.

          9.  Any notice required to be given hereunder shall be delivered in
person against written receipt, sent by letter or telex or telecopy or
communicated by telephone (subject, in the case of communication by telephone,
to confirmation dispatched within two business days by letter, telex or
telecopy), in the case of the Issuer, to it at the address set forth in the
heading of this Agreement, Attention: Financing Manager - Public Markets; in the
case of the Calculation Agent, to it at the address set forth in the heading of
this Agreement, Attention: Institutional Trust Services; in the case of the
Trustee, to it at 450 West 33rd Street, New York, New York 10001, Attention:
Institutional Trust Services; or, in any case, to any other address of which the
party receiving notice shall have notified the party giving such notice in
writing.

          10. This Agreement may be amended only by a writing duly executed and
delivered by each of the parties signing below.

          11. The provisions of this Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York.

          12. This Agreement may be executed in counterparts and the executed
counterparts shall together constitute a
single instrument.

                                      -5-

<PAGE>

          IN WITNESS WHEREOF, this Agreement has been executed and delivered as
of the day and year first above written.

                                                DOMINION RESOURCES, INC.

                                                By_______________________
                                                Title:

                                                JPMORGAN CHASE BANK

                                                By_______________________
                                                Title:

                                      -6-<PAGE>

                                                                    Exhibit 4.20

REGISTERED NO. ______
CUSIP NO. ____________

                            DOMINION RESOURCES, INC.
                           MEDIUM-TERM NOTE, SERIES B
                                  (Fixed Rate)

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (DTC) 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
IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
OF DTC), 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 MEDIUM-TERM NOTE, SERIES B, 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 MEDIUM-TERM NOTE, SERIES B, MAY NOT BE EXCHANGED IN
WHOLE OR IN PART FOR A SECURITY REGISTERED, AND NO TRANSFER OF THIS MEDIUM TERM
NOTE, SERIES B, 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.

<TABLE>
<CAPTION>

<S>                              <C>                             <C>
Principal Amount:                Interest Rate:                  Stated Maturity Date:

Original Issue Date:             Authorized Denomination (if     Specified Currency:
                                 other than U.S. $1,000 and
                                 integral multiples thereof):

Interest Payment Date(s):        Regular Record Dates:           Exchange Rate Agent:

Limitation Date:                 Refunding Rate:

Redemption Terms:                Make Whole Redemption: ____     Repayment Terms:
                                      Basis points:
                                 Other Redemption Price:
Original Issue Discount Note:    Yield to Maturity:

__  Original Issue Discount      __  Original Issue Discount
    Security Subject to Special      Security for Tax Purposes
    Provisions Herein                Only
Additional Terms (if any):
</TABLE>

FOR PURPOSES OF SECTION 1273 AND 1275 OF THE INTERNAL REVENUE CODE, THE AMOUNT
OF ORIGINAL ISSUE DISCOUNT ON THIS NOTE IS THE PERCENTAGE OF ITS PRINCIPAL
AMOUNT SET FORTH ABOVE AND THE YIELD TO MATURITY IS THE PERCENTAGE SET FORTH
ABOVE.

<PAGE>

     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
principal sum of ______________ on the Stated Maturity Date shown above (or upon
earlier redemption or repayment) (such Stated Maturity Date or earlier date of
redemption or repayment referred to herein as the "Maturity Date"), and to pay
interest thereon from the Original Issue Date shown above, or from the most
recent Interest Payment Date to which interest has been paid or duly provided
for, semiannually in arrears on each Interest Payment Date as specified above in
each year, commencing on the Interest Payment Date next succeeding the Original
Issue Date shown above and on the Maturity Date at the rate per annum shown
above until the principal hereof is paid or made available for payment. The
interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date (other than an Interest Payment Date that is the Maturity Date)
will, as provided in such Indenture, be paid to the Person in whose name this
Medium-Term Note, Series B (the "Note"), or one or more predecessor Notes, is
registered at the close of business on the Regular Record Date for such
interest, which shall be the Regular Record Date as specified above (whether or
not a Business Day, as hereinafter defined), as the case may be, next preceding
such Interest Payment Date, provided, however, that, if the Original Issue Date
shown above is between a Regular Record Date and the next succeeding Interest
Payment Date, interest payments will commence on the second Interest Payment
Date next succeeding the Original Issue Date to the holder of this Note on the
Regular Record Date with respect to such second Interest Payment Date; and
provided, further, that interest payable on an Interest Payment Date that is the
Maturity Date will be paid to the Person to whom principal is payable. Except as
otherwise provided in the Indenture (hereinafter defined), 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 Note (or one or more predecessor Notes) is registered at the
close of business on a Special Record Date for the payment of such defaulted
interest to be fixed by the Trustee, notice whereof shall be given to Holders of
Securities of this series 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, if any, on which the Securities of
this series shall be listed, and upon such notice as may be required by any such
exchange, all as more fully provided in the Indenture.

     Payment of the principal of (and premium, if any) and interest on this Note
will be made in immediately available funds upon surrender of this Note, in the
case of payment due at the Maturity Date, at the corporate trust office of the
Trustee, maintained for that purpose in the Borough of Manhattan, New York City
and currently located at GIS Unit Trust Window, 4 New York Plaza, 1st Floor, New
York, New York 10024-2413; provided, however, that if such payment of principal
or interest is to be made in a Specified Currency other than U.S. dollars, as
provided on the reverse hereof, by wire transfer to an account maintained by the
Holder hereof in the country of such Specified Currency shown above (the
Holder's Overseas Account), as designated by the Holder of this Note by written
notice to the Trustee on or prior to the Regular Record Date or at least 16 days
prior to the Maturity Date or in connection with any transfer after such
sixteenth day. In the absence of such designation or if such wire transfer
cannot be made for any other reason, the Trustee will mail a notice to the
address of the Person entitled thereto as such address shall appear on the
Security Register on the Regular Record Date for any payment of interest or on
the date of such notice in connection with payment of principal, as the case may
be, requesting a designation pursuant to which such wire transfer can be made
and no such payment shall be made until such designation is made. As more fully
provided on the reverse hereof, if payment of principal of (and premium, if any)
and interest on this Note is to be made in U.S. dollars, payment will be made
(upon surrender of the Note, in the case of payment due at the Maturity Date, at
the foregoing corporate trust office) by wire transfer to an account designated
by the Holder (the Holder's U.S. Account) by written notice to the Trustee on or
prior to the Regular Record Date or at least 16 days prior to the Maturity Date,
or, in the absence of such designation, by check mailed to the address of the
Person entitled thereto as such address shall appear on the Security Register on
the Regular Record Date for any payment of interest or the Maturity Date shown
above for payment of principal, as the case may be. As more fully provided on
the reverse hereof, payment of the principal of (and premium, if any) and
interest on this Note will be made 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 or, if payment of the principal of and interest on this Note is to
be made in a

                                       2

<PAGE>

Specified Currency other than U.S. dollars, subject to applicable laws and
regulations, in the Specified Currency shown above.

     REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY 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
Trustee by manual signature, this Security 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

<PAGE>

                          CERTIFICATE OF AUTHENTICATION

     This is one of the Securities of the series designated therein referred to
in the within-mentioned Indenture.

                                         JPMORGAN CHASE BANK, as Trustee

                                         By: ________________________________
                                              Authorized Officer

                                       4

<PAGE>

                                    (Reverse)
                            DOMINION RESOURCES, INC.
                           MEDIUM-TERM NOTE, SERIES B

     This Note 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 and as further supplemented by a ______ Supplemental Indenture dated as
of ___________ (the "________ Supplemental Indenture") (collectively, as amended
or supplemented from time to time, herein called the "Indenture," which term
shall have the meaning assigned to it in such instrument) between the Company
and JPMorgan Chase Bank, as Trustee (the "Trustee", which term includes any
successor trustee under the Indenture), to which the Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the
respective rights, limitations of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the Securities issued thereunder 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 as
Medium-Term Notes, Series B (the "Notes"). There is no limit on the aggregate
principal amount of the Notes and, in addition, any issuance of a tranche of
Notes may be reopened at any time for the issuance of additional Notes having
the same interest rate, maturity and other terms as Notes of such tranche
previously issued.

     The fixed rate Securities of this series are identical except for Specified
Currency, denomination, interest rate, issue date, Stated Maturity Date,
redemption or repayment terms, if any, extent of original issue discount, if
any, and any additional terms set forth on the face hereof.

     The principal of (and premium, if any) and interest on this Note are
payable by the Company in the Specified Currency shown on the face hereof. If
this Note is denominated in a Specified Currency other than U.S. dollars, unless
the Holder hereof shall have elected to receive payments in such Specified
Currency, payment of the principal of (and premium, if any) and interest on this
Note will be made in U.S. dollars. JPMorgan Chase Bank, in its capacity as
exchange rate agent, or such other Person as shall be appointed by the Company
(the "Exchange Rate Agent"), will convert payments of principal of (and premium,
if any) and interest on this Note to U.S. dollars. The amount to be received by
a Holder of this Note not electing to receive payments in such Specified
Currency will be based on a bid quotation in New York City received by the
Exchange Rate Agent at approximately 11:00 A.M. New York City time on the second
Business Day preceding the applicable payment date from a recognized foreign
exchange dealer (which may be the Exchange Rate Agent) for the purchase by the
quoting dealer of the Specified Currency for U.S. dollars for settlement on such
payment date in the aggregate amount of the U.S. dollars payable to all Holders
of Notes receiving payment in U.S. dollars and at which the dealer commits to
execute a contract. If such bid quotation is not available, payments will be
made in the Specified Currency. All currency exchange costs will be borne pro
rata by the Holders by deductions from such payments in U.S. dollars.

     As used herein, "Business Day" means any day, other than a Saturday or
Sunday, that is neither (a) a legal holiday nor (b) a day on which banking
institutions are authorized or required by law, regulation or executive order to
close in New York City; provided, however, that for Notes denominated in a
Specified Currency other than United States dollars that day is also not a day
on which commercial banking institutions are authorized or required by law,
regulation or executive order to close in the Principal Financial Center of the
country issuing the Specified Currency (or for Notes denominated in euros, that
day is also a day on which the Trans-European Automated Real-time Gross
Settlement Express Transfer System, commonly referred to as "TARGET," is
operating). "Principal Financial Center" means , as applicable, the capital city
of the country issuing the Specified Currency; provided, however, that the
Principal Financial Center will be New York City for United States dollars,
Sydney for Australian dollars, Toronto for Canadian dollars, Johannesburg for
South African rand and Zurich for Swiss francs.

     If this Note is denominated in a Specified Currency other than U.S.
dollars, the Holder of this Note may elect to receive payment of the principal
of and interest on this Note in the Specified Currency by transmitting a written
request for such payment to the Trustee at its corporate trust office in New
York City

<PAGE>

on or prior to the Regular Record Date or at least 16 calendar days prior to the
Maturity Date, as the case may be. Such request may be in writing (mailed or
hand delivered) or may be by cable, telex or other form of facsimile
transmission. The Holder of this Note need not file a separate election for each
such payment. Such election, once properly made, will remain in effect until
this Note is transferred or until changed by written notice to the Trustee, but
written notice of any such change must be received by the Trustee on or prior to
the Regular Record Date or at least 16 calendar days prior to the Maturity Date,
as the case may be.

     In order for the Holder of this Note to receive payments by wire transfer,
such Holder shall designate an appropriate account (being either the Holder's
Overseas Account or the Holder's U.S. Account, as the case may be). Such
designation shall be made by filing the appropriate information with the Trustee
at its corporate trust office in New York City on or prior to the Regular Record
Date for an Interest Payment Date or at least 16 calendar days prior to the
Maturity Date, except as provided on the face hereof. The Trustee will, subject
to applicable laws and regulations (in the case of a Specified Currency other
than U.S. dollars), and until it receives notice to the contrary or until this
Note is transferred, make such payment and all succeeding payments to such
Holders by wire transfer to the designated Holder's Overseas Account or Holder's
U.S. Account, as the case may be. The Company will pay any administrative costs
imposed by banks in connection with making wire transfer of payments, but any
tax, assessment, governmental or other charge imposed upon such payments will be
borne by the Holder of this Note and deducted therefrom.

     If the Specified Currency other than U.S. dollars is not available for the
payment of principal or interest with respect to this Note due to the imposition
of exchange controls or other circumstances beyond the control of the Company,
the Company will be entitled to satisfy its obligations to the Holder of this
Note by making such payment in U.S. dollars on the basis of the Market Exchange
Rate (defined as the noon dollar buying rate in New York City for cable
transfers for such Specified Currency, as certified for customs purposes (or, if
not so certified, as otherwise determined) by the Federal Reserve Bank of New
York) as of the second Business Day prior to payment or, if the Market Exchange
Rate is not then available, on the basis of the most recently available Market
Exchange Rate, or as otherwise specified in the terms of this Note. The Market
Exchange Rate determined as provided above by the Exchange Rate Agent and
certified by the Company to the Trustee shall be conclusive absent manifest
error. Any payment made in U.S. dollars under those circumstances where the
required payment is in a Specified Currency other than U.S. dollars will not
constitute an Event of Default under the Indenture with respect to the Notes. A
good faith determination by the Exchange Rate Agent that the Specified Currency
is unavailable shall be binding upon the Trustee and the Holder of this Note.

     In the case where the Interest Payment Date or the Maturity Date does not
fall on a Business Day, payment of principal (and premium, if any) or interest
otherwise payable on such day need not be made on such day, but may be made on
the next succeeding Business Day with the same force and effect as if made on
the Interest Payment Date or the Maturity Date and no interest shall accrue for
the period from and after the Interest Payment Date or the Maturity Date.

     Payments of interest on this Note will include interest accrued to but
excluding the respective Interest Payment Dates. Interest payments for this Note
shall be computed and paid on the basis of a 360-day year of twelve 30-day
months.

     If so provided on the face of this Note, this Note may be redeemed by the
Company in accordance with the Redemption Terms set forth on the face hereof. If
no Redemption Terms are set forth on the face hereof, this Note may not be
redeemed prior to the Maturity Date. On and after the initial Redemption Date
specified in the Redemption Terms, if any, this Note may be redeemed at any time
in whole or in part (provided that any remaining principal amount of this Note
shall be equal to an authorized denomination) at the option of the Company, at
the applicable Redemption Price specified in the Redemption Terms, together with
interest thereon payable to the Redemption Date, on notice given not more than
60 nor less than 20 calendar days prior to the Redemption Date. In the event of
redemption of this Note in part only, a new Note for the unredeemed portion
hereof shall be issued in the name of the Holder hereof upon the surrender
hereof.

                                       2

<PAGE>

     Notwithstanding the foregoing, the Company may not, prior to the Limitation
Date specified on the face hereof, if any, redeem this Note as contemplated by
the next preceding paragraph as a part of, or in anticipation of, any refunding
operation by the application, directly or indirectly, of monies borrowed having
an interest cost to the Company (calculated in accordance with generally
accepted financial practice) of less than the Refunding Rate specified on the
face hereof, if any. If a Make-Whole Redemption option is specified on the face
hereof, this Note will be redeemable at the option of the Company at any time at
the Redemption Price described in Section 115 of the ______ Supplemental
Indenture, calculated, where applicable, on the basis of the Adjusted Treasury
Rate referred to therein plus a number of basis points specified on the face
hereof, plus accrued and unpaid interest to the Redemption Date.

     The Notes will not have a sinking fund.

     If Repayment Terms are indicated on the face of this Note, the Company may
be required to repurchase this Note at the option of the Holder, in whole or in
part, on the Repayment Date(s) and at the applicable Repayment Price(s)
specified in the Repayment Terms, plus accrued interest, if any, to the
applicable Repayment Date. On or before the applicable Repayment Date, the
Company shall deposit with the Trustee money sufficient to pay the applicable
Repayment Price and any interest accrued on the portion of this Note to be
tendered for repayment. On and after such Repayment Date, interest will cease to
accrue on this Note or any portion hereof tendered for repayment.

     The repayment option may be exercised by the Holder of this Note 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 Note in part only, a new Note
or Notes 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 Note to be repaid, the Trustee must receive at least 30
calendar days but not more than 60 calendar days prior to the Repayment Date (i)
this Note with the form entitled "Option to Elect Repayment" attached to this
Note duly completed or (ii) a facsimile transmission or a letter from a member
of a national securities exchange or the National Association of Securities
Dealers, Inc. or a commercial bank or trust company in the United States setting
forth the name of the Holder of this Note, the principal amount of this Note,
the principal amount of this Note to be repaid, the registered number or a
description of the tenor and terms of this Note, a statement that the option to
elect repayment is being exercised thereby, and a guarantee that this Note to be
repaid, together with the duly completed form entitled "Option to Elect
Repayment" attached to this Security, will be received by the Trustee not 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 Note and duly completed form are received by the Trustee by such fifth
Business Day. Such notice, once given, will be irrevocable unless waived by the
Company.

     Unless otherwise indicated on the face hereof, this Note will not be
subject to repayment at the option of the Holder.

     If an Event of Default with respect to the Notes shall occur and be
continuing, the principal of the Notes may be declared due and payable in the
manner and with the effect provided in the Indenture; provided, however, that if
this Note is an Original Issue Discount Note, the provisions set forth below
under the caption "Special Provisions" shall supercede and replace the
provisions of this paragraph.

     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 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 Note shall be conclusive and binding upon such Holder and

                                       3

<PAGE>

upon all future Holders of this Note and of any Note issued upon the
registration of transfer hereof or in exchange herefor or in lieu hereof,
whether or not notation of such consent or waiver is made upon this Note.

     As provided in and subject to the provisions of the Indenture, the Holder
of this 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
Trustee written notice of a continuing Event of Default with respect to the
Notes, the Holders of not less than a majority in principal amount of the Notes
at the time Outstanding shall have made written request to the Trustee to
institute proceedings in respect of such Event of Default as Trustee and offered
the Trustee reasonable indemnity, and the Trustee shall not have received from
the Holders of a majority in principal amount of the 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 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 Note or of
the Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest on this Note at the times, place and rate, in the coin or currency, and
to the manner, herein prescribed.

     As provided in the Indenture and subject to certain limitations therein set
forth, the transfer of this Note is registrable in the Security Register, upon
surrender of this Note, for registration of transfer at the office or agency of
the Company in any place where the principal of and any premium and interest on
this Note are 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 Notes having the same Stated Maturity Date and
Original Issue Date, of authorized denominations and of like tenor and for the
same aggregate principal amount in the same Specified Currency, will be issued
to the designated transferee or transferees.

     The Notes are issuable only in registered form without coupons and unless
otherwise specified on the face hereof, in denominations of U.S. $1,000 and in
integral multiples of U.S. $1,000 in excess thereof or the approximate
equivalent of U.S. $1,000 in the Specified Currency in which this Note is
denominated (if not U.S. dollars) at the Market Exchange Rate on the Business
Day immediately preceding the trade date for the original issuance of each
tranche of Notes, as determined by the Exchange Rate Agent. As provided in the
Indenture and subject to certain limitations therein set forth, Notes are
exchangeable for a like aggregate principal amount of Notes having the same
Specified Currency, Stated Maturity Date and Original Issue Date of any
authorized denominations as requested by the Holder surrendering the same, upon
surrender of the Note or 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 Note for registration of transfer, the
Company, the Trustee and any agent of the Company, or the Trustee may treat the
Person in whose name this Note is registered as the absolute owner hereof for
all purposes, whether or not this Note be overdue, and neither the Company, the
Trustee nor any such agent shall be affected by notice to the contrary.

     Reference in this Note to "U.S.$" or "U.S. dollars", is to the currency of
the United States of America. Reference in this Note to the "Specified Currency"
is to the Specified Currency shown on the face hereof. All terms used in this
Note and not otherwise defined herein which are defined in the Indenture shall
have the meanings assigned to them in the Indenture.

                                       4

<PAGE>

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

                               SPECIAL PROVISIONS

                  Unless otherwise indicated on the face hereof under
"Additional Terms", if this Note is an Original Issue Discount Note subject to
these Special Provisions, as indicated on the face hereof, the amount due and
payable on this Note in the event that the principal amount hereof is declared
due and payable prior to the Stated Maturity Date hereof or in the event that
this Note is redeemed shall be the Amortized Face Amount (as defined below) of
this Note or, in the case of redemption, the specified percentage of the
Amortized Face Amount of this Note on the date such payment is due and payable
as determined by the Company, plus any accrued but unpaid "qualified stated
interest" (as defined in Section 1.1273-1 of the United States Treasury
Department Regulations (the "Treasury Regulations")).

                  The "Amortized Face Amount" of this Note shall be the amount
equal to the sum of (i) the issue price (as defined below) of this Note and (ii)
that portion of the difference between the issue price and the principal amount
of this Note that has been amortized at the Stated Yield (as defined below) of
this Note (computed in accordance with Section 1272(a)(4) of the Internal
Revenue Code of 1986, as amended, and Section 1.1275-1(b) of the Treasury
Regulations, in each case as in effect on the issue date of this Note) at the
date as of which the Amortized Face Amount is calculated, but in no event can
the Amortized Face Amount exceed the principal amount of this Note due at the
Stated Maturity Date hereof. As used in the preceding sentence, the term "issue
price" means the principal amount of this Note due at the Stated Maturity Date
hereof less the Original Issue Discount of this Note specified above. The term
"Stated Yield" of this Note means the Yield to Maturity specified above for the
period from the Issue Date of this Note to the Stated Maturity Date hereof based
on the issue price and principal amount payable at the Stated Maturity Date
hereof.

                  If this Note is issued with an original issue discount, in the
case of a default in payment of principal upon acceleration, redemption or at
Maturity hereof, in lieu of any interest otherwise payable, the overdue
principal of this Note shall bear interest at a rate of interest per annum equal
to the Default Rate set forth within the Additional Terms on the fact hereof (to
the extent that the payment of such interest shall be legally enforceable),
which shall accrue from the date of such acceleration, redemption or Maturity,
as the case may be, to the date payment has been made or duly provided for or
such default has been waived in accordance with the terms of the Indenture.

                                       5

<PAGE>

                                  ABBREVIATIONS

         The following abbreviations, when used in the inscription above in 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          UNIF GIFT MIN ACT_____Custodian ______

TEN ENT -  as tenants by the entireties                   (Cust)         (Minor)

JT TEN  -  as joint tenants with right of Under Uniform Gifts to Minors Act
           survivorship and not as tenants in                      (State)
           common

Additional abbreviations may also be used though not in the above list.

                                       6

<PAGE>

                            [FORM OF TRANSFER NOTICE]

          FOR VALUE RECEIVED the undersigned registered holder hereby sell(s),
     assign(s) and transfer(s) unto

_______________________________________________________________________________
     Insert Taxpayer Identification No.

     Please print or typewrite name and address including zip code of assignee

     the within Note and all rights thereunder, hereby irrevocably constituting
     and appointing
_______________________________________________________________________________
     attorney to transfer said 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 elsewhere upon the
                                            within instrument in every
                                            particular, without alteration or
                                            enlargement or any change whatever.

                                       7

<PAGE>

                            OPTION TO ELECT REPAYMENT

         The undersigned hereby irrevocably requests and instructs the Company
to repay the within Note (or portion thereof specified below) 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 Note 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 Notes to be issued to
the Holder for the portion of the within Note not being repaid (in the absence
of any such specification, one such Note 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.

                                       8

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